AllianceBernstein Reaches $3M Deal In OT Class Action

Law360, New York (August 12, 2013, 3:39 PM EDT) -- AllianceBernstein has reached a $2.98 million settlement of a four-year-old class action filed by employees accusing the investment management company of miscategorizing them as overtime-exempt even though they held clerical jobs, according to a filing in New York federal court Friday.

The memo from the employees' attorneys supporting the agreement asked the court to certify the settlement class, comprising anyone who worked as an associate portfolio manager or in a similar capacity in three of the company's divisions since June 2003, and said the lawyers could...
To view the full article, register now.