KeyBank To Pay $3.5M To Settle FLSA, Unpaid OT Claims

Law360, Los Angeles (March 14, 2014, 8:30 PM EDT) -- KeyBank NA has agreed to pay $3.5 million to settle a putative class and collective action alleging it misclassified certain customer service employees to avoid paying them overtime in violation of the Fair Labor Standards Act and state laws, according to documents filed Friday in New York federal court.

The plaintiffs in the case asked for a judge's preliminary approval of the deal, which would resolve their wage-and-hour class and collective suit against KeyBank. The agreement calls for the creation of a $3.5 million fund to...
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