Oracle To Fork Over $35M To End OT Action

Law360, New York (November 14, 2011, 5:01 PM EST) -- A California judge on Wednesday tentatively approved a $35 million settlement that would end a class action brought against Oracle Corp. by more than 1,700 workers who claim the company misclassified them as exempt from state-mandated overtime pay rules.

Of the settlement amount, $11.5 million will be used to pay litigation costs, expenses and attorneys' fees, according to court documents.

Notice of the proposed settlement is expected to be mailed out to class members in December, according to Goldstein Demchak Baller Borgen & Dardarian, which represents...
To view the full article, register now.

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.