A putative class action lawsuit alleges current and former employee advisers at Ameriprise Financial Inc. are entitled to overtime pay and other wages and the company made wrongful deductions from their wages. The suit also claims that Ameriprise violated the California Labor Code and Business & Professional Code.
The company's advisors comprise all employees who sold shares of real estate investment trust products and tax credit limited partnerships between March 22, 2000 and March 2006. The suit claims that Ameriprise incorrectly calculated commissions it owed its advisers for the sale of these products.
