Employers within the financial services industry face unique challenges in terms of legal compliance and the defense of lawsuits and administrative complaints. Banks, insurance carriers and other financial institutions are vulnerable to employment-related lawsuits, particularly those involving claims of discrimination, retaliation or “whistleblower” violations, and wage and hour concerns. Recruitment of industry personnel frequently results in claims of employee “raiding” and violation of non-competition, non-solicitation and non-disclosure agreements, along with related concerns about trade secret protection. As federal depositories, most banks are required to maintain affirmative action plans and are often the targets of compliance reviews and corporate management "glass ceiling" reviews by the U.S. Department of Labor’s Office of Federal Contract Compliance Programs (“OFCCP”).
What Sets Us Apart
Our lawyers’ substantial experience working with financial services companies enables us to effectively and efficiently represent our clients.
Members of Constangy’s sophisticated class and collective action practice group have substantial experience representing financial services companies in overtime cases filed under the Fair Labor Standards Act and related state wage and hour laws. With its offices across the country located in the primary hubs of the financial services industry, Constangy can readily mobilize a team of litigators to handle complex cases on a nationwide or regional basis. This enables us to provide a unified defense to financial institutions doing business in multiple states.
In addition, Constangy team members regularly represent banks, insurance carriers, and other financial institutions in a variety of discrimination and retaliation cases, including against large-scale investigations before administrative agencies and related litigation.
Constangy’s attorneys have also advised financial institutions regarding the employment law implications of mergers and acquisitions, including potential class claims related to reductions in force. Our attorneys have tremendous experience with the development of HR policies and practices that are specific to financial institutions and can help eliminate risk on a class basis. We also work regularly with clients in the financial industry to protect their trade secrets and other competitive interests, including drafting non-competition agreements and other restrictive covenants and obtaining injunctive relief.
What We Do
- Defense of claims alleging discrimination, harassment and retaliation before administrative agencies and courts, including large-scale class action proceedings
- Defense of whistleblower claims under the Sarbanes-Oxley Act and other statutes
- Defense of claims of unpaid overtime and other violations of the Fair Labor Standards Act and similar state wage and hour laws, including nationwide collective/class actions
- Advice and representation in matters involving violations of non-competition, non-solicitation and non-disclosure agreements, as well as theft of trade secrets and other competitively sensitive information
- Advice, policy development, and training regarding compliance with employment-related laws and regulations
- Development of affirmative action plans and representation in OFCCP compliance reviews
Represented one of the nation’s largest financial institutions in a class investigation being conducted by the Denver Field Office of the EEOC regarding allegations of age discrimination resulting from the merger between two major banks and related reductions in force.
Represented multinational bank before San Francisco Superior Court in a class action involving meal and rest periods, off-the-clock work, reimbursements and travel time.
U.S. District Court, Central District of CA. Represented and served as lead California counsel for large banking institution in class action regarding MDL hybrid commission sales.
U.S. District Court, Central District of CA. Represented global insurance provider in putative medical benefits class action.
News & Analysis
- Employment & Labor Insider, 3.19.18