Not long ago, Kevin McInerney thought his overtime class action against UBS Financial Services was “optimistically” worth $180 million. Entering settlement talks, the Reno, Nev.-based plaintiffs lawyer downgraded that assessment to about $100 million.
But by the time the case wound up before a federal judge on Friday, McInerney was hoping his stockbroker clients would come out with a $45 million settlement. Meanwhile, a UBS defense lawyer suggested the class could easily have gotten less. Because of recent changes in some states’ labor laws, though, the plaintiffs cashed out just in time.
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