Merrill Lynch Unit Settles OT Class Action

Law360, New York (January 22, 2009, 12:00 AM EST) -- An overtime class action accusing a Merrill Lynch & Co. Inc. subsidiary of failing to properly compensate a former senior sales associate has been dismissed after the sides reached a settlement.

The case, brought in the U.S. District Court for the Southern District of Florida, was dismissed Wednesday with prejudice.

According to papers filed with the court, named plaintiff Janet Muto is to receive $7,000 — and her attorney $3,000 — to settle the case. Merrill Lynch denied the allegations and any liability, according to the...
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