Williams v. U.S. Bancorp Investments CA1/4

I. BACKGROUND

Two lawsuits are at issue in this dispute. The first of them, Burakoff et al. v. U.S. Bancorp (L.A. Super. Ct., 2008, No. BC341430) (Burakoff), was a class action brought by Robert Burakoff and Mohamed Alakozai seeking restitution of overtime wages and wage deductions, waiting time penalties, and meal and rest breaks. In the Burakoff action, the named plaintiffs alleged they worked for USBI as securities brokers and sought to represent a class of securities brokers or broker trainees. In May 2008, the Los Angeles Superior Court certified a class of “All individuals who are or were employed by Defendant as Investment Financial Consultants in the State

1 of California at any time during the period commencing October 13, 2001 to the date of entry of this Order.” The order was entered on May 8, 2008. The court also certified two subclasses. Subclass A consisted of “All class members who worked more than 40 hours in a week or 8 hours in a day but did not receive overtime pay.” Subclass B consisted of “All class members who were subject to at least one deduction from commissions or other wages, which deduction was not the result of a dishonest, willful or grossly…