UBS
This overtime class action lawsuit against Zurich-based investment bank, UBS, has resulted in a US$89 million settlement. The claim was the brokerage firm had inappropriately categorized 13,000 stockbrokers as being excluded from overtime wages.
From 4 January 2007, 6,684 claimants have stepped forward to partake in this national settlement. They represent 51 per cent of the members of the class.
Possibly the first-ever nationwide wage-and-hour settlement concerning stockbrokers, the case is being appealed by one claimant, Anthony D’Aria, who is a former employee of UBS. In mid-February this year, he complained that the compensation was highly undervalued and the lawyer’s fees were exorbitant at US$11 million. The settlement payout is being stalled because of this appeal.
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Any idea when the UBS overtime lawsuit appeal is scheduled to be settled in 9th circuit court? Ethel Allman
When is this going to be resolved !!!
OK. First we were promised the payment December 2006, then the summer of 2007 We know about the single holdout in CA but I thought they were going to set his case aside so everyone else could be paid. WHAT GIVES?
I have been following this suit and I agree with Lindy Sirton .
We were first promised a payment in 2006 , I have submitted all of the paperwork only for it to be followed-up by a gentleman with a grimey voice telling me that the settlement is on appeal and “that was that”.
I would like to be contacted about the disposition(s)if any on this situation.
I can be reached at (773) 288.7793 thank Louis Blanchet.
When is the appeal scheduled for ?
Is their a resolution forthcoming ?
The last time I looked at this page my response was being moderated.
Does this mean I will have an answer to my inquiries or will someone from one of the firms contact me or what ?
I have left an e-mail address but I prefer to be contacted by telephone at this number 773.288.7793.
Again Thank You.
I think if you looked up the law firm’s website, you will see that it says:
“UBS Financial (9-10-08)
This case is fully briefed and is sitting at the Ninth Circuit Court of Appeals. Unfortunately, there is no way that we can move the Court of Appeals to act on this case. I can assure you that UBS is as frustrated as we are by the delay caused by these appeals. UBS hoped to put the matter behind them. We will update this website to reflect any developments.”
Here is the link to McInerney’s contact page on his website: http://www.brokerovertime.com/contactus.html