A federal judge in California denied a motion to dismiss a class action lawsuit alleging Prospect Mortgage LLC of misclassifying its loan officers and loan originators as being exempt from overtime pay and minimum wage. The Complaint states that Prospect Mortgage paid loan officers and others similarly situated on a commission basis and did not pay them at all for weeks in which they did not complete loan sales regardless of how many hours they spent working for the company. The Complaint also alleges that these same employees were not paid for overtime when they worked more than 40 hours in a week. The Plaintiffs are attempting to bring their claims on behalf of both a nationwide class of employees under the Fair Labor Standards Act and a California class of workers under the state’s labor laws.
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