HSBC Makes $15.6M Deal To End Bankers’ OT Class Action

Law360, New York (November 27, 2012, 1:36 PM EST) -- HSBC Bank USA NA has agreed to pay $15.6 million to resolve a putative class action alleging the company withheld overtime wages from some of its bankers, managers and specialists, according to a proposed settlement filed Monday in New York federal court.

The plaintiffs' class representatives asked the court for preliminary approval of their settlement, as well as conditional certification for four subclasses of employees who worked for HSBC in New York, California, Connecticut and New Jersey, saying efficiency weighed in favor of a settlement....
To view the full article, register now.




Case Information

Case Title

Yuzary v. HSBC Bank USA, N.A. et al

Case Number



New York Southern

Nature of Suit

Labor: Fair Standards


Paul G. Gardephe

Date Filed

May 9, 2012

Law Firms


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.