Chase to Pay $625,000 to Settle Worker-Misclassification Claims

JP Morgan Chase agreed to pay at least $625,000 to resolve allegations it misclassified facilities managers as exempt from wage-and-hour laws, according to court documents filed Sept. 18.

The settlement agreement, if approved by a federal court in California, would bring an end to claims against Chase in a lawsuit brought in August 2016 by class representative Steve Thoma, who worked in Los Angeles County. Under the deal, 85 of the eligible 153 facility managers in various parts of the country would receive about $4,859 each.

“This is an excellent result, particularly when you consider that the claims cover only ...