Citi, Home Lending Specialists Reach Deal On OT Claims

Law360, New York (February 25, 2014, 2:49 PM EST) -- Home lending specialists who accused Citigroup Inc. of misclassifying them as exempt from overtime pay told the Second Circuit on Friday that they had reached an agreement with the banking giant to resolve their suit, which included a battle over Citi's individual arbitration policy.

In a letter to the appeals court, the plaintiffs said they had resolved the matter with Citi in principle, subject to the completion of a final settlement agreement that must be followed by the necessary applications for settlement approval by the district...
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