Accountants Target HSBC In Overtime Action

Law360, New York (November 7, 2011, 5:41 PM EST) -- An HSBC Bank USA NA fund accountant hit the bank with a proposed class action on Friday, alleging HSBC failed to compensate employees in its New York office for overtime they worked.

Senior fund accountant Cesar Vargas lodged a suit in New York federal court on behalf of more than 40 current and former fund accountants who have worked at the bank’s Madison Avenue office in New York in the past three years.

Vargas claims HSBC maintains an unlawful policy that all fund accountants working in...
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