AXA Advisors Unpaid Overtime Class Action Settlement

A settlement has been reached in a class action lawsuit that alleges AXA Advisors LLC misclassified certain financial professionals as independent contractors and failed to pay them all they were owed under federal and New York state law. If you worked for AXA, you may be entitled to benefits from this class action settlement.

If approved, this AXA class action settlement will resolve allegations that AXA misclassified some financial professionals as independent contractors and failed to pay them minimum wage and overtime pay as required by federal law and the laws of New York.

AXA denies any wrongdoing or liability but agreed to settle the class action lawsuit to avoid the expense and uncertainty of ongoing litigation.

Under the terms of the class action settlement, AXA will create a $2.3 million settlement fund, which will be used to pay for all claims as well as all court-approved awards, fees and costs.

Class Members who wish to object to the AXA class action settlement must do so no later than Feb. 15, 2016. The exclusion deadline is March 1, 2016.

Who’s Eligible

There are two Classes of AXA employees who can participate in this wage and hour class action settlement.

New York Class: Includes “all traditional licensed pre-contract agents who worked for an AXA office in New York from May 13, 2005 to October 31, 2011. These agents typically possessed Life, Series 7, and one of Series 63, 65, and/or Series 66 licenses and worked with fixed and variable life insurance, annuities, mutual funds and individual securities for a maximum of 6 months. Traditional agents typically did not work with group products for school district employees. New York class members have claims under New York state law.”

FLSA Class: “A collective of pre-contract agents who worked for AXA nationwide and previously joined this lawsuit to assert claims under federal law. Collective members are also called ‘FLSA Opt-Ins.” Some FLSA Opt-Ins may also be New York class members.”

NOTE: If you did not receive a notice of this AXA class action settlement but believe you are a Class Member, contact the Settlement Administrator for more information.

Potential Award

Varies.

New York Class:

Individual settlement payments to New York Class Members depends on the AXA branch office and the number of weeks worked as a traditional fully licensed pre-contract agent between May 13, 2005 and Oct. 31, 2011. See chart below for details.

NOTE: New York Class Members who previously participated in the prior settlement In re: AXA Wage and Hour Litigation cannot recover again for work performed through May 12, 2009.

FLSA Class:

Individual settlement payments will depend on whether the Class Member was an RBG pre-contract associate or a traditional pre-contract associate. RBG pre-contract agents nationwide are expected to receive a payment of $50 for every eligible work week.

Class Members who were traditional pre-contract agents are entitled to the following settlement payments:

NOTE: FLSA Class Members are not eligible for compensation for weeks worked as an AXA 12th or 20th edition employee agent or a 14th edition independent contractor agent.

Proof of Purchase

N/A

To be eligible for benefits from this class action settlement, Class Members must submit a properly completed Claim Form, a properly completed IRS Form W-9, and one copy of a government issued ID (such as a driver’s license or passport).

Frequently Asked Questions

FAQs: NEW YORK CLASS »

Frequently Asked Questions

FAQs: FLSA CLASS »

Claim Form Deadline

3/1/2016

Case Name

Bennet Marcus, et al. v. AXA Advisors LLC, et al., Case No. 1:11-cv-022339-SMG, in the U.S. District Court for the Eastern District of New York

Final Hearing

5/6/2016

Settlement Website

www.WageSettlement.com

Claims Administrator

AXA Class Action Settlement
c/o Gilardi & Co. LLC
P.O. Box 8060
San Rafael, CA 94912-8060
1-844-280-4902

Class Counsel

VIRGINIA & AMBINDER LLP

LEEDS BROWN LAW PC

Defense Counsel

N/A