Clark Dodge Looks To Duck Brokers’ Wage Suit

Law360, New York (April 10, 2012, 8:12 PM EDT) -- Financial services company Clark Dodge & Co. on Tuesday asked a New York state judge to throw out a putative class action brought by stockbrokers who claim their commission-based compensation system is illegal, arguing that the workers are labor-law exempt professionals.

“It's our contention that these people are professionals,” attorney Davida Scher of Meier Franzino & Scher LLP told Judge Eileen Bransten at a hearing in Manhattan. “A professional doesn't have a minimum wage they have to be paid.”

Two former brokers, Deric Menga and Wilfred...
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