Overtime lawsuit settlement letter

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Oct 21, 2007 10:30 pm

I just received my Banc of America Investments Settlement offer.  It works out to $170/month for California and $85/month for everywhere else (10 months at BAC =  $850).  This is not bad for basically doing nothing.  Hopefully, this doesn't get too much play in the media.  It makes brokers sound like a bunch of whining babies.

Oct 21, 2007 10:42 pm

So essentially you're admitting that you only survived for 10 months at BAC and did nothing during that time?

Oct 21, 2007 10:45 pm

Funny. 10 months was an example for those that needed help with the math.  I did nothing to be part of the class action.

Oct 22, 2007 9:12 am

got mine also friday. I'm due about $3,300. That made my weekend knowing that. settlement paperwork is going in the mail today. Certified!

Oct 22, 2007 2:35 pm

when did you have to work there?

recieved my letter on Sat, not sure if elogible
Oct 22, 2007 5:51 pm

I worked for them about  36 mths. If you got the documents you qualify for the claim. The yellow documents state how many months you worked for BOA.

Oct 23, 2007 10:42 am

Heard if you are still there it's best not to take part.

Oct 23, 2007 2:28 pm

that's up to you.

Oct 23, 2007 7:54 pm

Why would it matter if someone is stilll there? I can't imagine a bank as large as B of A would want to bother a rep with a small payout.

Oct 23, 2007 9:26 pm

Your name will be on a court document in which you are suing your current employer. They don't care if it's for a dime, you are suing while you work there.

Oct 23, 2007 10:38 pm

I know of a rep who is in a class action suit as we speak and he is still employed by boa.

Oct 23, 2007 11:17 pm
badmove?:

when did you have to work there?

recieved my letter on Sat, not sure if elogible



Crazy idea, but maybe you should read the letter and any supporting documentation?

Oh no, it makes far more sense to rely upon the advice of anonymous strangers.....

Oct 24, 2007 10:22 am

I am only letting you know what I heard. If you have a good relationship with your manager, ask them what they think of the suit and maybe they will give you some insight.

Nov 2, 2007 8:21 am

When you are too damn cheap to pay mileage and basic expenses you get your arse handed to you in a very public class action.  There will be more to come.....for these arrogant mongrelz

Nov 2, 2007 8:25 am

Ez: And dont forget the dozens of on going fraud cases that are in arbitration against BAI

Nov 3, 2007 9:54 am

I've been there for 5+ years.  I didn't get a letter - I wonder if I can copy someone elses?

Nov 17, 2007 9:21 am

Which is fantastic because there is a finite pool of money that has to be paid out in the settlement regardless how many people make a claim. The less people making claims means more money for those that are able to file a claim.

 
"Oh green dollars keep on rollin'---sung to the tune of Doobie Bros..
 
Nov 17, 2007 10:19 am

I have a friend that is a pretty high up attorney with BOA. He told me existing FAs with BOA best not file a claim. His legal dept. will keep a list of claiments if managers wanted to know which existing employees file. Just my 2 cents from the hourses mouth.

Nov 17, 2007 10:21 am

horses mouth!

Nov 17, 2007 11:42 am
ezmoney:

I have a friend that is a pretty high up attorney with BOA. He told me existing FAs with BOA best not file a claim. His legal dept. will keep a list of claiments if managers wanted to know which existing employees file. Just my 2 cents from the horses mouth.

 
Gee...what a shock that a bank would use intimidation tactics such as this against it's overpaid investment advisors...
 
If they're stupid enough to retaliate against employees filing claims that have been approved by the legal system (whether or not we all agree with the entire overtime concept), they deserve another class action suit for doing so.
 
Exhibit #206 on why I no longer work for a bank.