Edward D. Jones & Co. Faces FLSA Suit By Brokers

Law360, New York (March 4, 2008, 12:00 AM EST) -- Securities brokers fired off a nationwide collective action complaint Monday, alleging that Edward Jones & Co.'s policy of commission-based wages violates their right to overtime pay under the Fair Labor Standards Act.

The complaint alleges the brokerage firm's failure to pay the securities brokers and trainees for all the hours in a full work week, and its failure to provide time-and-a-half rates for overtime violates the FLSA and State Minimum Wage Laws.

The complaint, filed in the U.S. District Court for the Northern District of Ohio,...
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