JPMorgan Pays $16M To Settle Bankers' OT Class Action

Law360, Los Angeles (March 25, 2014, 6:56 PM EDT) -- JPMorgan Chase & Co. has agreed to pay $16 million to settle a proposed class and collective action alleging it failed to pay its business bankers overtime, according to documents filed in New York federal court on Tuesday.

The business bankers asked a judge for preliminary approval of the deal with JPMorgan and subsidiary JPMorgan Chase Bank NA, which would resolve their long-running wage-and-hour suit against the financial services giant. Attorneys for the plaintiffs will apply for up to one-third of the settlement sum as attorneys'...
To view the full article, register now.




Case Information

Case Title

Royer et al v. J.P. Morgan Chase & Co. et al

Case Number



New York Southern

Nature of Suit

Labor: Fair Standards


Laura Taylor Swain

Date Filed

November 13, 2011

Law Firms


UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.