Wells Fargo & Co.

A class action lawsuit was filed on behalf of 4,500 current and former employees against the San Francisco financial services company alleging violations of the federal Fair Labor Standards Act. The lawsuit claimed some workers were improperly exempted from overtime pay. Wells Fargo unlawfully characterized business-systems employees who performed routine tasks as analysts or consultants, making them ineligible for overtime. The US District Court of the Northern District of California has preliminarily approved a $12.8 million class action settlement. (Oct-09-06) [MARKETWATCH: WELLS FARGO OVERTIME]