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Fidelity Rate of Overtime Pay Calculation Settlement

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Settlement Structure: 
Case Summary: 

Fidelity Brokerage Services, LLC, Fidelity Investments, and FMR, LLC are paying out $1,200,000 to settle a collective and class action alleging that Fidelity did not properly calculate the rate of pay to apply to overtime hours for certain employees. The complaint alleged that Fidelity violated federal Fair Labor Standards Act (FLSA) and California labor laws when it did not take into consideration bonus payments, student loan repayments, and reimbursements made under Fidelity’s Fitness Reimbursement Program.

Docket Number: 
3:17-cv-06027-WHA
Company: 
Fidelity Investments​
Class Period: 
Sunday, October 20, 2013 to Monday, October 1, 2018
Objection Deadline: 
Thursday, July 18, 2019
Exclusion Deadline: 
Thursday, May 2, 2019
Final Approval Hearing: 
Thursday, August 22, 2019
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