The financial services industry is facing an onslaught of overtime lawsuits, triggering hefty settlements from Wall Street powerhouses and raising litigation fears within the industry. Management-side attorneys note that the litigation trend has accelerated in the past year, with at least one major company getting hit with an overtime lawsuit every month. But there are indications of another trend developing as well -- companies fighting back.
October 18, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
The financial services industry is facing an onslaught of overtime lawsuits, triggering hefty settlements from Wall Street powerhouses and raising litigation fears within the industry.
Management-side attorneys note that the litigation trend, which started in the early 2000s, has accelerated in the past year, with at least one major company getting hit with an overtime lawsuit every month.
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