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Fitapelli & Schaffer, Llp
Merrill Lynch and Bank of America Sued for Alleged Labor Violations, According to Fitapelli & Schaffer, LLP
February 1st, 2009
A new lawsuit alleges that Merrill Lynch and Bank of America (NYSE:BAC) violated the federal Fair Labor Standards Act (FLSA) by failing to pay overtime to back office employees who facilitate transactions of the company's derivatives products, according to Fitapelli & Schaffer, LLP. Andrea Levine, of Staten Island, N.Y., and Ivey Moore, of Mount Vernon, N.Y., both of whom are employed as Derivatives Settlement Specialists, filed suit Monday in New York federal court. The lawsuit alleges that the plaintiffs and other Merrill Lynch Derivatives Settlement Specialists have been "blatantly misclassified as 'exempt'" and "regularly worked in excess of 40...
Source: Pharma Investments, Ventures & Law Weekly (2009-02-01)
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