Morgan Stanley Employees Sue For Overtime Pay

Law360, New York (August 28, 2006, 12:00 AM EDT) -- Employees of Morgan Stanley DW Inc. have hit the investment bank with a class action suit alleging the firm does not adequately compensate them for overtime.

The suit, filed in the U.S. District Court for the Central District of Illinois, alleges that the bank’s policies for overtime pay often leave employees working far more than 40 hours a week without compensation.

Plaintiffs allege that although both federal and state laws require Morgan Stanley to pay its stockbrokers an overtime premium, the firm instead compensates its traders...
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