UBS Wins Arbitration Bid In Financial Advisers' OT Fight

Law360, New York (December 4, 2012, 6:01 PM EST) -- A New York federal judge on Tuesday granted an arbitration request by UBS AG's broker-dealer unit in a proposed class action by financial advisers who accuse the Swiss banking giant of shorting them on overtime wages.

U.S. District Judge Barbara Jones said the plaintiffs, a proposed class of current and former financial advisers at UBS Financial Services Inc., must arbitrate their suit. The judge found that the agreements the advisers had signed, including a compensation pact requiring them to arbitrate employment and pay claims, were enforceable....
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