JPMorgan Agrees To $2.4M Deal In Appraisers' Wage Suit

Law360, New York (October 14, 2014, 4:45 PM EDT) -- JPMorgan Chase & Co. has agreed to pay $2.4 million to resolve a putative class action alleging the company incorrectly classified commercial real estate appraisers as exempt from overtime, according to a filing in California federal court.

Attorneys representing a group of JPMorgan real estate appraisers who alleged they were misclassified as exempt from overtime pay on Friday asked a federal judge for preliminary approval of a settlement to resolve the dispute. Under the deal, which would provide approximately $9,500 each to 158 employees and $800,000...
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