A motion that seeks to certify a class of all accounting associates and senior accounting associates was filed in California yesterday against Big 4 accounting firm PricewaterhouseCoopers. The plaintiffs are two former associates who claim PwC owes them overtime and benefits. The suit was filed in federal court in the Eastern District of California by William Kershaw of the Sacramento law firm, Kershaw, Cutter & Ratinoff, and has been pending for more than a year. According to the law firm’s website, the action is now the first against one of the Big 4 to reach the class certification stage.
CFO.com reports the plaintiffs are arguing that under current California law, only certified public accountants can be deemed exempt from getting overtime. Since the plaintiffs are not licensed, they say they’re owed big. A hint at the potential damage is broken down on Kershaw, Cutter & Ratinoff’s website: “An associate who earned $42,000 a year and worked approximately 250 hours of overtime per year may be entitled to approximately $40,000 in overtime pay over a 5-year period. This amount does not even include the substantial penalties and interest that would be imposed for the willful failure to pay overtime.”
The law firm’s site says it’s also looking into the rest of the Big 4- KPMG, Ernst & Young, and Deloite & Touche. CFO.com says PwC did not immediately return calls.
The big four do treat their employees rather well I must say. I worked at PWC when I was younger, and while a lot of the associates on my team schemed for ways to get easy/more money, I found that to be true in offices everywhere from personal experience and those of my friends.
Face it. No one wants to work. Not really. And to see how much revenue these biggies bring in...why not. Sounds like they have a case. Go for it guys. The hopes and dreams of millions fly with you. And don't forget, "share the wealth...dude."
Posted by: Big 4 Life | October 25, 2007 at 07:49 PM