Chase Denied Arbitration In Financial Advisers' OT Action

Law360, Washington (March 2, 2012, 7:13 PM EST) -- A California federal judge on Thursday refused to send to arbitration a putative class action that alleges Chase Investment Services Corp. violated the Fair Labor Standards Act by withholding overtime wages for financial advisers and trainees. 

Michael Alakozai and Steven Pitts sued the JPMorgan Chase & Co. subsidiary in a potential 700-member class action under the FLSA in July, alleging that while they worked for the company as inside sales representatives, they were not paid overtime and had illegal deductions taken from their paychecks.

U.S. District Judge...
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