Today, the law firms of Outten & Golden LLP in New York and Kennedy Hodges LLP in Houston, which both specialize in representing employees in various matters, filed a nationwide collective action lawsuit against global investment banking firm Goldman Sachs for violations of the Fair Labor Standards Act (FLSA).
Specifically, the lawsuit alleges that Goldman Sachs pays certain hourly workers less than the federally mandated overtime rate of time and a half their regular hourly rate for hours worked above forty hours per week. The lawsuit is brought as a collective action on behalf of all such underpaid hourly workers at Goldman, including analysts and associates, nationwide.
Attorney for the Plaintiff, Galvin Kennedy of Kennedy Hodges LLP, stated, “Legal action is required to remind corporations of their legal obligations not to take advantage of their workers by underpaying them.”
Expanding on this idea, attorney Jahan Sagafi of Outten & Golden LLP explained, “Decades ago, Congress passed the FLSA to combat unemployment and ensure that workers have time in the week to spend with their families. The time-and-a-half overtime pay requirement is a critical part of that incentive structure.”
Another attorney on the case, Don Foty of Kennedy Hodges LLP, concluded, “Goldman Sachs has paid these employees in a manner that resulted in substantially less compensation than traditional legally required overtime pay.”
Current and former Goldman Sachs employees who wish to report their work experiences or learn more about the lawsuit should contact us. The site allows employees to contact plaintiffs’ counsel to learn more about their rights and how to protect them.
The case is styled Walsh v. Goldman, Sachs & Co., No. 14-cv-8643, filed today in the Southern District of New York.
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