JP Morgan Faces Class Action By N.Y. Loan Officers

Law360, New York (February 12, 2008, 12:00 AM EST) -- Investment bank JP Morgan Chase & Co. has been hit with a second wage-and-hour class action in the space of two weeks, this time by its army of mortgage loan officers in New York.

The financial services giant has been accused of willfully denying overtime wages to consultants across the state in violation of the Fair Labor Standards Act and New York Labor Law.

The lawsuit was filed Thursday in the U.S. District Court for the Southern District of New York by named plaintiff George Raikos...
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