DETROIT (WWJ) – A federal jury in Detroit has found Quicken Loans not guilty of violating overtime pay laws. Quicken Loans Chairman Dan Gilbert said he’s excited about the verdict and the conclusion of the case.
“I think this is a vistory for right over wrong today. It was a victory for all people and all companies who know there is a situation that’s been brought upon them by a certain lawfirm out of Minniapolis trying to extract money for themselves, primarily,” Gilbert said.
“We fought it. We fought it for six, seven years,” he said.
The lawsuit was filed on behalf of more than 300 people who worked the phones to peddle mortgages over a four-year period ending in 2006. The long trial has centered on whether the work was mainly sales, which would qualify them for overtime.
Two similar law suits are pending but, Quicken Loans attorneys Mike and Jeff Morganroth say today’s victory could bring an end to those two law suits as well.