HSBC's $15.6M Deal OK'd In Workers' OT Suit

Law360, San Francisco (April 30, 2013, 8:00 PM EDT) -- A New York federal judge Tuesday granted preliminary approval to a $15.6 million settlement between HSBC Bank USA NA and almost 2,000 bankers, managers and specialists who claim the company adopted high-productivity requirements compelling employees to work overtime, but didn't compensate them for those hours.

Under the deal, HSBC will pay an average of $4,900 to roughly 1,950 premier relationship managers, personal banking officers, business banking specialists and small business specialists who worked for HSBC during various periods from Feb. 7, 2006, to Nov. 15, 2012....
To view the full article, register now.