First Investors Pays $1.75M To Settle OT Suit By Calif. Reps

Law360, New York (April 25, 2012, 6:16 PM EDT) -- First Investors Corp. agreed Monday to pay $1.75 million to settle a class action filed by financial services representatives and agents who said they were denied overtime, minimum-wage protections and other benefits while working at the company's California offices.

The agreement puts to rest claims that the New York-based investment company and affiliate First Investors Life Insurance erroneously characterized the employees as independent contractors and failed to comply with California labor laws by denying them wages, overtime and other benefits.

Under the terms of the settlement,...
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