J.P. Morgan Chase & Co.

ABBEY SPANIER INVESTIGATES J.P. MORGAN CHASE & CO. FOR MISCLASSIFYING THEIR FINANCIAL ADVISORS EXEMPT FROM THE OVERTIME PROVISIONS OF FEDERAL AND STATE LAW AND AS A RESULT, FAILING TO PAY THEM OVERTME

Abbey Spanier is currently investigating J.P. Morgan Chase for unfair employment practices.  J.P. Morgan Chase has allegedly misclassified its Financial Advisors (employees whose primary responsibilities include selling securities and other financial products), including but not limited to, Personal Financial Advisors, Independent Financial Advisors, Financial Advisor Associates, Senior Financial Consultants, Investment Sales representatives and/or RIS Team Leaders, as exempt from the overtime provisions of the Fair Labor Standards Act (“FLSA”) and state law.

Federal law requires overtime pay at a rate of not less than one and one-half times the employee’s regular rate of pay for each hour worked in excess of 40 hours in a given workweek.  If Abbey Spanier’s investigation reveals that J.P. Morgan Chase’s Financial Advisors do not qualify for an “exempt” classification, these employees may be entitled to unpaid overtime, liquidated damages and other benefits under the FLSA and state wage and hour laws.