Newbury v. Equitable Advisors, LLC and Equitable Network LLC,
Case No. CACE24004907

CIRCUIT COURT OF THE SEVENTEENTH JUDICIAL CIRCUIT IN AND FOR
BROWARD COUNTY, FLORIDA

The Claim Filing Deadline was August 20, 2024.
If you were employed by Equitable Advisors, LLC and Equitable Network, LLC as a Financial Professional, you may be entitled to a payment from the settlement of a collective action lawsuit if you complete a
Consent to Join and Release Form.

A state court authorized this website notice. This is not a solicitation from a lawyer.

This notice pertains to any employee of Equitable Advisors, LLC and Equitable Network, LLC (together, “Equitable”) who worked as a financial professional in Equitable’s 20th Edition Program and/or Preliminary Employment Program (“PEP”) (collectively, “FPs”) at any time between (i) March 22, 2018, through March 22, 2024, in New York or New Jersey; (ii) March 22, 2020, through March 22, 2024, in California; and/or (iii) March 22, 2021, through March 22, 2024, anywhere else in the United States (the “Covered Period”).

A former FP known as the “Plaintiff” has sued Equitable in a lawsuit filed as a collective action under the Fair Labor Standards Act (“FLSA”) in the Circuit Court of the Seventeenth Judicial Circuit in and for Broward County, Florida. The lawsuit is known as Newbury v. Equitable Advisors, LLC and Equitable Network LLC, Case No. CACE24004907. The lawsuit alleges that Equitable Advisors and Equitable Network, referred to as the “Defendants,” failed to pay Plaintiff and other FPs properly for all overtime hours they worked. The Plaintiffs allege that FPs were misclassified as employees exempt from overtime pay under the law during the Covered Period during which they were FPs.

Equitable denies the allegations in the lawsuit and maintains that it properly classified and compensated its FPs at all times. The parties have entered into this settlement solely with the intention to avoid further disputes and litigation with the attendant inconvenience and expense. The Court has not made any ruling on the merits of the Plaintiff’s claims, and no party has prevailed in this action.

Under the allocation formula created by the settlement, you may be eligible to receive a settlement award, subject to deductions for applicable taxes. The amount is based on the number of weeks you worked for Equitable as an FP during the Covered Period, according to Equitable’s records. The final amount to which you may be entitled may be higher or lower than the estimated amount.

Your legal rights may be affected, and you have a choice to make now:
YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT:
RETURN THE CONSENT FORM By returning a properly completed Consent to Join and Release Form, you agree to participate in and be bound by the settlement, receive a monetary settlement payment, and release your claims.
DO NOT RETURN THE CONSENT FORM If you do not wish to participate in, or be bound by, the settlement, you should not return the Consent to Join and Release Form. If you do not timely return a properly completed Consent to Join and Release Form, you will not receive a monetary settlement payment.
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