Financial services group Morgan Stanley has reached a nearly $5M settlement with its client services group concerning its alleged failure to pay workers overtime compensation. According to reports, the class action wage and hour lawsuit was filed on behalf of more than 800 current and former client associates. The associates were non-exempt employees, and hence entitled to overtime pay at a rate of one and one-half times their standard rate for all time worked over 40 hours in any workweek. While Morgan Stanley doesn’t admit any wrongdoing, associates will receive back pay and damages.
This lawsuit demonstrates that wage and hour violations can occur in any workplace. While the laws concerning minimum wage and overtime appear straightforward, in reality pay violations are frequent. If you have any wage and hour questions or believe that you have not received all the pay you are entitled to, consulting with an experienced Atlanta wage and hour attorney is important to ensure you receive the compensation you rightly deserve.