WaMu To Face FLSA Lawsuit By Underwriters

Law360, New York (November 3, 2008, 12:00 AM EST) -- Washington Mutual Bank will have to face litigation after it lost its bid to dismiss a purported collective action under the Fair Labor Standards Act that also accuses it of violating several California labor laws by misclassifying loan underwriters as exempt from overtime compensation.

On Monday, Judge William Q. Hayes of the U.S. District Court for the Southern District of California denied Washington Mutual's motion to dismiss the case. Washington Mutual had argued that the case could not go forward because a virtually identical plaintiff class...
To view the full article, register now.

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.