Ameriprise Shorts Financial Advisors On Pay: Suit

Law360, New York (September 4, 2007, 12:00 AM EDT) -- Ameriprise Financial Services Inc. has been hit with a class action complaint alleging that the financial services company failed to pay its financial advisors the federal mandated premium rate for overtime hours and made prospective financial advisors work for nothing before being formally appointed to the company's ranks.

The lawsuit, which was filed Friday in the U.S. District Court for the Northern District of Ohio, invokes the Fair Labor Standards Act and the Ohio Minimum Fair Wage Standards Act. The three named plaintiffs seek to represent...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.