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An Ohio federal judge has given preliminary approval to a $7 million class action settlement agreement between PNC Bank NA and a Class of mortgage loan officers who were allegedly misclassified as exempt from overtime by the bank. The overtime lawsuit also alleges that the bank improperly deducted from the mortgage loan officers pay.
U.S. District Judge Algenon L. Marbley of the Southern District of Ohio approved the motion for preliminary approval and set a Final Approval Hearing on Jan. 28 to determine the overall fairness of the PNC overtime settlement.
The class action settlement calls for the 915 eligible Class Members to receive 65 percent of the total amount, after attorneys’ fees, administration and court costs and other expenses are deducted. The Class includes PNC mortgage loan officers who worked for the bank from March 2006 to April 2011 in the states of New York, Kentucky, California, Illinois, Maryland, Pennsylvania, Washington, Ohio, Indiana, Massachusetts, Missouri and New Jersey.
According to the terms of the PNC overtime settlement, each Class Member may receive pay for about four hours of overtime for each week worked during the covered period. Loan officers involved in the class action lawsuit may recover about $3,350. Each of the representative plaintiffs were also to receive enhancement awards within the range of $2,500 to $5,000.
Plaintiffs Lee Struck and Christopher Kusserow filed the PNC overtime class action lawsuit in November 2011, alleging that PNC Bank violated the Fair Labor Standards Act, the Ohio Minimum Fair Wage Standards Act and the Ohio Prompt Pay Act.
The case is Struck et al. v. PNC Bank NA, Case No. 2:11-cv-00982, in the U.S. District Court for the Southern District of Ohio.
Help for Victims of Unpaid Overtime Violations
Going up against a large corporation for wage and hour violations can be daunting, but banding together with other victims through a class action lawsuit can save you time, money and resources. If you were forced to work overtime or off the clock without overtime pay, were denied meal breaks, were paid less than minimum wage or suffered some other wage and hour violation, you may have the right to seek back pay and penalties from your current or former employer. Don’t delay though: the statute of limitations under the FLSA is 2 to 3 years, depending on the state. Find out if you qualify by filling out the short form at the Wage & Hour, Overtime Pay Class Action Lawsuit Investigation.
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One thought on PNC Bank’s $7M Overtime Settlement Gets Preliminary Approval
I notice that too!