Financial services sector companies have never had it easy when it comes to compliance matters. Unfortunately, these organizations now have one more thing to worry about, and it is a big worry: the exploding number of wage-and-hour class action lawsuits targeting them. This is no longer a risk only in theory; these actions have become commonplace, including in Connecticut.
The federal Fair Labor Standards Act, which imposes minimum wage requirements, mandates that most employees be paid overtime pay at a rate that is one-and-a-half times their regular rate for all hours worked over 40 hours in a workweek. Certain employees are exempt from this requirement under the FLSA. The exemption standards are complex in structure and perhaps even more in application. What is more, Connecticut law has its own overtime and minimum wage payment laws, which in turn have their own exemptions, differing in many instances from those under the FLSA. Not surprisingly, these laws have become fertile ground for claims against employers.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
