Mound Cotton Prevails on Motion to Compel Arbitration of Labor and Employment Dispute in Securities Industry

Mound Cotton lawyers, Barry Temkin and Robert Goodman, prevailed on a motion to compel arbitration of a federal collective action before Judge Jed Rakoff in U.S. District Court for the Southern District of New York.  The plaintiffs were former registered representatives of a registered broker-dealer; they brought a federal collective action for claims that they were entitled to overtime benefits under the Fair Labor Standards Act.  The plaintiffs also sought class action status for related state law claims.  In an order dated August 12, 2010, the court sent the plaintiffs' FLSA claims to arbitration with the Financial Industry Regulatory Authority and stayed the action pending the resolution of the arbitration.  Assisting on the motion were Mound Cotton associates Diana McMonagle and Dawn Maruna.  For further information contact Barry Temkin at btemkin@moundcotton.com or Robert Goodman at rgoodman@moundcotton.com.