EAST HANOVER, N.J., Jan. 25, 2012 /PRNewswire/ -- Novartis Pharmaceuticals Corporation (NPC) and Sanford Wittels & Heisler, LLP, Counsel to the Plaintiffs and the Class, today announced an agreement to resolve the nationwide Wage and Hour class action against NPC currently pending in the US District Court for the Southern District of New York.
NPC has agreed to end the ongoing proceedings and provide a payment of up to 99 million dollars for eligible class members. This settlement resolves the wage and hour claims brought in 2006, as well as additional wage and hour claims covering a more recent time period.
"We believe this settlement is in the best interest of our employees and the Company," said Andre Wyss, President of Novartis Pharmaceuticals Corporation. "We have been litigating this case for nearly six years and the Company has determined that it is time to resolve these wage and hour claims. We consistently compensate all employees fairly in accordance with the US Fair Labor Standards Act (FLSA) and applicable state laws. We remain confident that sales representatives should continue to be classified as exempt from overtime because their autonomy and incentive compensation are typical of exempt employees as defined by US law."
"We are pleased to have secured a 99 million dollar settlement wherein Novartis compensates its sales representatives for years of overtime pay," explained David Sanford, lead counsel for the Plaintiffs. "While we remain confident that the United States Supreme Court later this year will uphold the Department of Labor's interpretation of wage and hour law, the risks of further litigation are great. We are proud that over seven thousand current and former Novartis sales representatives will be able to participate in this settlement. It is a fair and equitable result and can serve as an exemplar for companies around the United States that face wage and hour li
|SOURCE Novartis Pharmaceuticals Corporation|
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