UBS Overtime settlement?
Anyone know where this stands? Where is my $2500???
UBS was one of the first to settle -- completed in 2006:
they settled but then another attorney sued again. Wanted more money. Still waiting.
I wouldn't count on this money any time soon. Here's an update from the class action attorney:
To all the advisors wanting compensation for overtime - go stand in line with the US Air passengers who weren't happy with the 5 grand they got after Sully actually gave them a second chance at life.
1) For the passengers, hop on another plane, rookie pilot, same scenario - if you land safely, sue all you want. If not, well...
2) For the advisors looking for easy money - quit your job now and go join a union.
How serious can any advisor be who got into this business expecting to work 9 to 5 and make it? Attorneys suck, and so do those with an entitlement philosophy.