Compliance April 8, 2003

CSFB Suit Alleges FLSA Violation

August 28, 2001 (PLANSPONSOR.com) - A suit seeking class action status has been filed against Credit Suisse First Boston Corp. on behalf of clerical workers who charge that the securities firm intentionally denied employees - primarily women - overtime pay.
Reported by

The suit charges that the company violated wage provisions of the federal Fair Labor Standards Act (FLSA). FLSA requires employers to pay hourly workers at one and a half times their regular hourly wage for every hour worked beyond 40 hours a week.

Olga Zamora, a former sales assistant who worked in CSFB’s Miami office, says that despite being required to work over 40 hours some weeks, employees were not permitted to record the additional hours worked. That was an FLSA violation, she said.

Zamora also charges that CSFB did not record any of the hours its employees worked nor did it post a notice to its employees of their rights under the FLSA.

– Camilla Klein                           editors@plansponsor.com

«