Meyer Wilson is pleased to announce the final approval of a settlement
of its case against PNC Bank, N.A. Filed in 2011, the settled class consists
of all individuals who worked as Mortgage Loan Officers for PNC Bank at
any time between the earlier of March 19, 2009 or the date three years
prior to the date the MLO opted-in to this action, and April 4, 2011,
and who opted-in to this action by filing their written consent to join
prior to July 1, 2013. These mortgage loan officers alleged that they
were denied overtime pay and were otherwise improperly classified by PNC
Bank as exempt employees. PNC Bank denies all wrongdoing.
The settlement approved by the federal court represents a significant recovery
for class members. PNC Bank agreed to pay $7 million into a settlement
fund, out of which eligible class members will receive a monetary award.