Countrywide Settlement Information
This proposed class action on behalf of California underwriters employed in the Underwriter I, II, or III positions at Countrywide (including prior positions involving the same work, but with other titles) alleged that these employees were misclassified as exempt employees, and sought the recovery of overtime wages and other benefits earned during the period of misclassification. The class period was from November 27, 2002 through January 15, 2008, when Countrywide reclassified these positions as non-exempt. The proposed settlement was granted Preliminary Approval by the Court on December 23, 2009.
The proposed settlement requires the payment by Countrywide of a total of $15,000,000.00, including all fees, costs, incentive awards, penalties, interest and costs of administration. Formal notices to each class member are expected to be mailed by the claims administrator by approximately the end of January, 2010. This matter is pending in the Los Angeles Superior Court. For more information, you may contact paralegals Denise Bauwens or Susan Joseph, or attorneys Stan Saltzman or Mark Bradley, at (818) 991-8080. Please bear in mind that until the formal notices are prepared and mailed, further information will be difficult to provide. The notice mailed to each person will set forth the precise estimate of each class member's individual share of the settlement proceeds.
Important Documents
- Settlement Agreement
- Order Granting Preliminary Approval
- Notice to Class Members (will be uploaded prior to mailing date)
