Overtime Claims: Bank of America Settles Lawsuit for $36 Million

According to Consumerist, Bank of America recently agreed to settle an overtime class action lawsuit involving nearly 400 current and former employees in California for $36 million. Photo of earnings statement

The news outlet said that a lawyer representing plaintiffs in the lawsuit announced the settlement before the case was scheduled to go to trial at the end of August. The settlement will need to be approved by a California federal court.

An employee alleging that Bank of America wrongfully applied “administrative” and “professional” exemptions to residential staff appraisers initiated the lawsuit in April 2013. The plaintiff claimed that employees regularly worked from 6 a.m. to 10 p.m. without any overtime compensation from Bank of America subsidiary Landsafe Appraisal Services, Inc.

The lawsuit was granted class action status in June 2014, under the California Labor Code. Landsafe Appraisal Services, Inc. is a closing services company that provides services for business and residential properties. In August, Bank of America announced that it was selling the company.

Am I Entitled to Overtime Pay?

It is good that employees who were allegedly misclassified will receive back pay and damages because of this lawsuit.

Keep in mind, most employees in California (those who are not in management or supervisory positions) are entitled to overtime of one and a half times their regular hourly pay rate for any work performed in excess of eight hours per day or 40 hours per week.

Some companies attempt to avoid paying overtime by misclassifying positions. If you can prove that your position has been misclassified and/or that your employer has violated overtime laws, you can seek back pay, in addition to damages.

Talk to our Los Angeles labor attorneys about how you can fight back if you have been illegally denied overtime. You should be paid for ALL of the hours you work. Visit our Facebook or Twitter pages for more information about California labor laws.

Kesluk, Silverstein & Jacob—Los Angeles employment attorneys

Source: http://consumerist.com/2015/08/28/bank-of-america-reportedly-settles-overtime-lawsuit-for-36-million/