Bloomberg to Settle for $54.5M for Unpaid OT

Computer help desk representatives for Bloomberg , the equity trading platform, analytics and data services provider, have moved to settle a class action wage lawsuit for whopping $54.5 million. The affected analytics team members alleged that Bloomberg misclassified them as exempt and wrongfully denied them their overtime pay even when regularly working more than 40 hours per week violating the Fair Labor Standards Act (FLSA) . Representatives were told they would work five eight-hour work shifts and be paid a salary intended to cover a forty hour work week. However, they were then required to arrive earlier than their shift times, work through lunch, and stay late to complete jobs without any additional compensation.

The lawsuit alleged that Bloomberg willfully failed to pay its representatives the proper wages by not instituting a time-keeping system to record all hours worked and knowingly made the analytics staff work off the clock. Additionally, the complaint alleges that representatives should have been paid their overtime at time and one-half what their regular hourly rate should be. This massive settlement is a big win for tech desk support staffers that are often times categorized as exempt from receiving overtime and are paid a set salary for working long hours. Fitapelli & Schaffer, LLP has successfully litigated and negotiated numerous class action wage lawsuits against established companies much like Bloomberg. As champions of hard working employees, Fitapelli & Schaffer do not back down easily and work tirelessly to achieve consistently favorable results for their clients.

Our firm is currently looking to represent any help desk support employees who believe they are being improperly compensated. If you are being paid a set salary and work over 40 hours per week, you may have a claim. Call us for a free phone consultation at (212) 300-0375 or visit our website for additional information.