Meyers Dawdled In Paying Brokers, Suit Says

Law360, New York (June 23, 2011, 7:39 PM EDT) -- A former Meyers Associates LP employee slapped the broker-dealer with a class action Wednesday in New York state court, alleging it failed to pay its stockbrokers overtime and often delayed handing out commissions.

James Thomas, a stockbroker at Meyers from August 2004 to July 2009, says that he did not receive his commissions on a monthly basis as promised and that because Meyers paid stockbrokers exclusively with commissions and not with a salary or hourly wage, he sometimes received no compensation for his work when it...
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