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Court denies motion for conditional certification on Waterstone Mortgage lawsuit

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Court denies motion for conditional certification on Waterstone Mortgage lawsuit

In the case Werner et al. v. Waterstone Mortgage Corp., the U.S. District Court for the Western District of Wisconsin denied the plaintiff's move for conditional certification and to provide notice to the putative class.

The Waterstone Financial Inc. unit was accused of violating the Fair Labor Standards Act after failing to pay loan officers their minimum and overtime wages.

In another similar case filed by Herrington, the district court awarded post-arbitration fees and costs of around $98,000 to the plaintiff. Pewaukee, Wis.-based Waterstone Mortgage is appealing the decision to the Seventh Circuit Court of Appeals. If the decision is upheld, the company estimates an award of up to $11 million.

Waterstone Mortgage said it intends to "vigorously defend" its interests in both cases.