Wells Fargo Settles Overtime Class Suit for $35 Million

Wells Fargo will pay $35 million to settle federal and state overtime claims brought by nearly 9,000 hourly bank employees nationwide.

The settlement is fair, reasonable, and adequate considering the strength of the case, the risk and complexity of their claims, the likelihood of further litigation, the extent of discovery, and experience of class counsel, Judge Esther Salas of the U.S. District Court for the District of New Jersey said. The court granted final approval of the deal Wednesday.

The deal resolves overtime claims brought by hourly bank employees against Wells Fargo & Co. under the Fair Labor Standards Act ...