Law360, New York (July 22, 2014, 7:04 PM EDT) -- The Second Circuit ruled Tuesday that despite their entry-level positions, KPMG LLP audit associates have a level of specialized knowledge and professional discretion that makes them exempt from federal overtime requirements.
Denying a bid from former KPMG audit associates to revive a putative wage class action, a three-judge panel at the Second Circuit said the workers fell within the scope of an exemption for "learned professionals" under the Fair Labor Standards Act.
"This case requires us to determine whether junior employees at a major accounting firm who received substantial specialized education as accountants, were designated as accountants by their employer, performed...
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