Press & News

Jerry Maatman Quoted in Registered Rep Magazine
03/01/2006

Jerry Maatman was quoted and the recent Workplace Class Action Litigation Report was noted in an article in the February 22, 2006 online edition of Registered Rep Magazine, a publication designed for stockbrokers and retail investment professionals. The article (“Brokers Headed for Sweep in Overtime Pay Case?”) reports the recent large settlement paid by UBS to settle a class-action suit brought against it by California stockbrokers over overtime pay claims. A comparable settlement was paid in August, 2005 by Merrill Lynch and litigation is pending for similar claims against Citigroup, Morgan Stanley and A.G. Edwards in California. The recent favorable settlements, the article relates, are likely to lead to more class-action cases over brokers’ overtime pay in other states.

Wage and hour litigation is becoming a hot issue in the industry, Jerry said, warning firms that “collective action litigation and class action is becoming ever more sophisticated, and will continue to be a source of significant financial exposure to employers well into the future.”