Property appraisers have filed a class action lawsuit under the federal Fair Labor Standards Act against JPMorgan Chase Bank for unpaid overtime compensation. The suit claims that the appraisers were misclassified as exempt from overtime under the "administrative" exemption; they claim the exemption does not apply because they are required to follow definite formulas in valuing property and are not permitted to deviate from those formulas.
The key issue here appears to be the degree of discretion and independent judgment that the appraisers actually exercise. If the valuation is dictated by a formula, the question will then be how does the formula apply? Does the appraiser exercise judgment and discretion as to how the formula may apply?
Lexington, Kentucky overtime lawyer Robert Abell represents individuals and employees recover the overtime pay they've earned but not been paid; contact him at 859-254-7076.