Prospect Mortgage Workers Win Initial Cert. In OT Suit

Law360, New York (August 25, 2011, 1:36 PM EDT) -- A California federal judge on Tuesday conditionally certified a class of Prospect Mortgage LLC loan officers who were paid on a commission-only basis to bring claims that the residential mortgage lender misclassified them as exempt from federal wage requirements.

U.S. District Judge Lawrence K. Karlton conditionally certified a class consisting of all Prospect Mortgage loan officers from October 2007 through the present who were paid on a commission-only basis to bring claims under the Fair Labor Standards Act. However, the court partially denied the plaintiffs' motion...
To view the full article, register now.




Case Information

Case Title

Sliger et al v. Prospect Mortgage, LLC et al

Case Number



California Eastern

Nature of Suit

Labor: Fair Standards


Lawrence K. Karlton

Date Filed

October 18, 2010

Law Firms


UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.