Genovese Lichtman Joblove & Battista Announces Class Action Lawsuit Against Credit Suisse First Boston.Business Editors & Legal Writers MIAMI--(BUSINESS WIRE)--Aug. 28, 2001 Former Employees of Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. Sue for Unpaid Overtime in National Class Action Lawsuit class action lawsuit A lawsuit in which one party or a limited number of parties sue on behalf of a larger group to which the parties belong. For example, investors may bring a class action lawsuit against a brokerage firm that has actively promoted a tax ; Plaintiffs Claim International Securities Firm Violated Fair Labor Standards Act Fair Labor Standards Act or Wages and Hours Act, passed by the U.S. Congress in 1938 to establish minimum living standards for workers engaged directly or indirectly in interstate commerce, including those involved in production of goods bound Clerical employees of Credit Suisse First Boston Corp., represented by attorney Jonathan Perlman, filed a national class action suit today claiming that the international securities firm intentionally denied employees, primarily women, of overtime pay. The suit says that such conduct is in violation of wage provisions of the federal Fair Labor Standards Act (FLSA FLSA Fair Labor Standards Act FLSA Fedora Legacy Security Advisory ), which requires employers to pay hourly workers at 1.5 times their regular hourly wage for every hour worked beyond 40 hours in a week. Olga Zamora, a former sales assistant sales assistant n (BRIT) → dependiente/a m/f sales assistant (US), sales clerk sale n → vendeur/euse who worked in Credit Suisse The Credit Suisse Group (SWX:CSGN, NYSE: CS) is a financial services company, headquartered in Zürich, Switzerland. It is the second-largest Swiss bank, behind UBS AG. First Boston's downtown Miami office, says that despite being required to work over 40 hours some weeks, employees were not permitted to record the additional hours worked. In violation of the FLSA, Zamora says that Credit Suisse First Boston did not record any of the hours its employees worked, nor did it post a notice to its employees of their rights under the FLSA. On behalf of his clients, plaintiff attorney Jonathan Perlman, a partner in the Miami law firm of Genovese Lichtman Joblove & Battista, is seeking unpaid wages, liquidated damages Monetary compensation for a loss, detriment, or injury to a person or a person's rights or property, awarded by a court judgment or by a contract stipulation regarding breach of contract. , and attorneys' fees, as provided for in the FLSA. This is not the first time a brokerage firm has been sued for failing to pay overtime compensation to thousands of sales assistants who support its stockbroker sales forces, says Perlman. He cites Prudential Securities, Merrill Lynch, Raymond James and Associates, and others as having been sued in similar class actions. "The brokerage industry's long time pattern and practice of refusing to pay its clerical workforce as required by law in order to increase their profits needs to stop," comments Perlman, who also represented plaintiffs in previous FLSA class actions against major brokerage firms. "In cases such as these, many employees realize that they are being shortchanged, but often don't think they can fight the system or don't realize the amount of compensation due to them." With over $400 billion in assets, Credit Suisse First Boston Corp., formerly know as Donaldson, Lufkin & Jenrette, Inc., operates in over 87 locations worldwide and employs over 28,000. It is a subsidiary of Zurich-based Credit Suisse Group, one of the world's largest securities firms and has offices in cities throughout the U.S. including Miami, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Atlanta, Baltimore, Boston, Charlotte, Chicago, Cleveland, Dallas, Denver, Hollywood (Florida), Houston, Los Angeles, Monterrey, Nashville, Newport Beach, Palo Alto, Pasadena, Philadelphia, San Francisco, Seattle, Tampa, and Washington, D.C. Former and current Credit Suisse First Boston employees who wish to participate in this lawsuit and obtain any compensation due to them can do so only by filing a consent form. To request this form call Perlman's toll free hotline at (800) 625-7479. About Genovese Lichtman Joblove & Battista Miami-based Genovese Lichtman Joblove & Battista is a twenty-five-lawyer boutique firm specializing in the areas of complex corporate litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. and bankruptcy. Other areas of litigation expertise include franchising, securities, class actions, asset-based lending Asset-Based Lending A business loan secured by collateral (assets). The loan, or line of credit, is secured by inventory, accounts receivable and/or other balance-sheet assets. Also known as "commercial finance" or "asset-based financing". , and real estate development, among others. The firm is "AV" rated by Martindale-Hubbell, the highest professional rating. For more information, visit their website at www.gljb.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion