Rental Property Group Settles Agent Overtime Suit for $5 Million

A rental property management firm’s $5 million settlement of overtime pay allegations from its leasing agents was approved by a federal judge.

The 83-member collective said they worked overtime hours for FirstKey Homes LLC without proper payment. The settlement approved by the US District Court for the Northern District of Texas divides the collective between employees not exempt from the Fair Labor Standards Act, and those who said they were misclassified as exempt. Class counsel will take no more than $2 million in attorneys’ fees, or 40% of the settlement fund, on top of costs and litigation expenses.

• Judge Sam ...