A group of financial advisors with WM Financial Services has sued the company under the federal Fair Labor Standards Act () and several state laws. Their complaints are many, but largely revolve around overtime pay they say the company owes them and disputes over how their commissions were calculated.
WM moved to have the case dismissed, and the federal district court for New Jersey agreed to throw out the state charges. The court essentially agreed with WM that the brokers added the state charges only to make the case a larger class action than it would be under federal charges alone.
The federal FLSA case will continue.