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First Franklin, a subsidiary of Merrill Lynch, may have failed to pay its Inside Account Executives and Closers overtime pay as required by law.
Investigation Source
- Nationwide
Investigation Scope
Category Information
Investigation Topic
- Failure To Pay Overtime
Products or Services
- Outside Sales Representatives, Consultants or Executives
- Loan Officers or Mortgage Loan Officers
Injury Type
- Monetary Loss
Investigation Details
Investigation and a pending class action lawsuit against Merrill Lynch and First Franklin on behalf of current and former employees that performed the functions of "Inside Account Executive" or "Closer".
The class action lawsuit alleges that Merrill Lynch and First Franklin consistently violated federal wage and hour laws by failing to pay earned overtime wages.
The workers are seeking collective action status.
The class action lawsuit alleges that Merrill Lynch and First Franklin consistently violated federal wage and hour laws by failing to pay earned overtime wages.
The workers are seeking collective action status.
Defendant Details
| Name (Stock Symbol) | Brief Description |
|---|---|
| Merrill Lynch & Co. Inc. | Merrill Lynch & Co. Inc., a subsidiary of Bank of America Corporation, provides a range of financial services, including asset management, investment banking, and investment advisory services. |
| First Franklin Financial Corporation | First Franklin Financial Corporation, a subsidiary of Merrill Lynch, was a mortgage lender. It only services loans now. |