October 6th, 2010
Misclassifying Your Employees As Exempt For Purposes of Overtime Can Have Devastating Consequences
Review Our Self-Audit Form to Determine if Your Company May be at Risk
Many employers mistakingly believe that if their employee is paid a salary and has a “high level” sounding job title, the employee is exempt from overtime requirements. What some employers do not appreciate is that job titles are not important. Instead, in addition to being paid on a salary basis, the employee must also perform job duties that meet the standards for one of six exempt categories established by the United States Department of Labor and the Fair Labor Standards Act (”FLSA”).
If an employer makes the mistake of misclassifying its employees, it can cost the company hundreds of thousands of dollars, or more. For example, IBM agreed to pay $65 million to settle a class action lawsuit accusing the company of misclassifying employees as exempt from overtime. Likewise, the office supply chain Staples recently agreed to pay $42 million to settle several class action lawsuits related to the alleged misclassification of its assistant store managers.
The large financial risk is due in part to the fact that, unless the employer can prove its misclassification was done in good faith, employers are required to pay double damages – an amount for unpaid overtime wages plus an equal amount for liquidated damages – in addition to other damages. Additionally, the employee is entitled to two years of unpaid back overtime wages (or three years if the employer’s violation of the FLSA was willful).
Therefore, in addition to educating themselves about the FLSA’s job classification requirements, it is very important for employers to audit their employee classifications to ensure their exempt employees are truly exempt and not entitled to overtime. To review our Self-Audit Form to determine your company’s compliance with the FLSA’s exemption rules, please click here.
Posted in Articles | No Comments »
October 6th, 2010
The Law’s Effect on Commercial Real Estate Transactions in Colorado
On April 29, 2010, Governor Ritter signed into law the Commercial Real Estate Brokers Commission Security Act, commonly known as the “Broker Lien Law.” Prior to enactment, the proposed bill was hotly debated by brokers, commercial building owners, and other professionals within Colorado’s real estate community. The law provides commercial real estate brokers in Colorado the ability to file a lien against commercial property when the owner fails to pay a lease commission due to the broker for procuring a tenant for the property
The law is intended to give commercial real estate brokers lien rights similar to other real estate professionals, including architects and building contractors, who are already afforded lien rights through Colorado’s existing mechanic’s lien statutes. To read more about this new law and its potential impact o n commercial real estate transactions in Colorado, please click here.
Posted in Articles | 1 Comment »
October 6th, 2010
Posted in Events | No Comments »
May 25th, 2010
Five Dufford & Brown attorneys were recognized in the 2010 issue of Colorado Super Lawyers.
Gene Megyesy was selected as a 2010 Super Lawyer in Energy & Natural Resources, the third year in a row he has received this designation.
John Heronimus was selected as a 2010 Rising Star in Real Estate, Chris Baumgartner was selected as a 2010 Rising Star in Business Litigation, and Mechelle Faulk was selected as a 2010 Rising Star in Family Law, this is the second year in a row that John, Chris and Mechelle have received these designations. Jessica Browne was designated a 2010 Rising Star in Securities & Corporate Finance.
Congratulations to Gene, John, Chris, Jessica, and Mechelle.
Tags: baumgartner, browne, faulk, heronimus, megyesy, rising stars, Super Lawyers
Posted in In the News | No Comments »
May 25th, 2010
On May 26, 2010, Dufford & Brown attorneys Larry Stone, David Furgason and Chris Hammond will present a seminar for employers on minimizing liability when terminating employees. For more information or to RSVP to attend this interactive roundtable discussion, please click here.
Tags: employment, furgason, hammond, seminar, stone
Posted in Events | No Comments »
March 5th, 2010
The Colorado Lawyer profiles Dufford & Brown founder Phil Dufford.
Click here for the whole article
Posted in Articles, In the News | No Comments »
March 5th, 2010
Randy Feuerstein presents surface and mineral conflicts facing wind farm operators and oil and gas producers.
Click here for more information
Posted in Events | 3 Comments »
March 5th, 2010
Larry Stone and Chris Hammond review recent developments in Wage & Hour Law.
Click Here for more information
Posted in Articles | Comments Off
