Prudential To Settle Wage Class Action For $12.5M

Law360, New York (June 30, 2017, 6:23 PM EDT) -- Prudential Financial Inc. on Friday asked a New Jersey federal court to approve a $12.5 million settlement of a class action claiming its financial representatives were improperly docked pay for work expenses and worked unpaid overtime.

In their filing with the court, Prudential and the class said the settlement was the result of 11 months of negotiation and a pair of mediation sessions in May 2016 and September 2016, and would settle the claims of Prudential employees in 12 states.

"After more than a decade, we have decided to resolve this matter through a settlement that is in the best interest...

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