We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Mortgage Lender Settles 25 Overtime Lawsuits

Law360 (April 17, 2007, 12:00 AM EDT) -- Home mortgage lender Oak Street Mortgage has agreed to pay $2.45 million to settle a slew of lawsuits by loan officers who claimed they were cheated out of overtime pay.

Several of the 25 lawsuits involving about 193 plaintiffs have been transferred to the Middle District of Florida for more efficient approval and allocation of the settlement through one court.

Under terms of the proposed settlement, the plaintiffs will release all Federal Fair Labor Standards Act and other wage-and-hour claims against Oak Street, which will dismiss...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.