Spitzer Defends UBS Brokers—No, SeriouslySpitzer Defends UBS Brokers—No, Seriously
Eliot Spitzer announced in mid-December that he thinks the $89 million overtime settlement that UBS agreed to in February 2006 is unfairly distributed, and he’s asking a Northern California District Court to reject the proposed settlement amount.
January 1, 2007
Halah Touryalai
Eliot Spitzer announced in mid-December that he thinks the $89 million overtime settlement that UBS agreed to in February 2006 is unfairly distributed, and he’s asking a Northern California District Court to reject the proposed settlement amount. In a memorandum to the court, Spitzer wrote that New York-based UBS brokers will receive just $11.3 million of the proposed $89 million, while California brokers get a windfall $44 million. A settlement hearing is scheduled for Jan. 19.
