Stockbrokers Win Initial Class Cert. In Unfair Wage, OT Suit

Law360, New York (May 22, 2013, 8:07 PM EDT) -- A New York federal judge on Wednesday conditionally certified a class of stockbrokers to bring claims that Fordham Financial Management Inc. that because they were paid on a commission-only basis, their wages dipped below minimum wage and they were denied overtime.  

Judge Paul A. Crotty granted the plaintiffs conditional certification to bring a Fair Labor Standards Act collective action, saying the making a modest factual showing that they and other employees were victims of a common policy.

The lawsuit, lodged in by a pair of former...
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