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A.G. Edwards Loses Argument That Brokers
Not Entitled To Overtime Pay
On July 31st, a California district court judge denied A.G. Edwards' Summary Judgment Motion. The court rejected the firm's argument that brokers who are commission-based and receive a "draw" are exempt from state and federal overtime statutes.
Brokers, the court found, do not fall within any of the exceptions of the overtime laws.
The securities and litigation lawyers at
SNSFE
are prosecuting several of these overtime class action cases nationwide and are interested in interviewing brokers who may be interested in recovering their overtime pay.
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Free Opinion
Sponsored by James J. Eccleston, an attorney representing stockbrokers, financial planners and
investors nationwide in arbitration, litigation and regulatory matters, and a shareholder with the law firm
Shaheen, Novoselsky, Staat, Filipowski & Eccleston
P.C.(www.snsfe-law.com). This Web site contains material
of general interest. It is neither intended to, nor constitutes, either legal advice or investment advice.
Always consult an attorney and/or investment advisor when building and protecting your wealth.
All content Copyright © 2008 Advocate Capital Management, Inc. except where noted. All rights reserved.
20 North Wacker Drive, Suite 2900, Chicago, Illinois 60606
Telephone: 312-621-4400 | Fax: 312-621-0268
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