Tr?id=566623520170033&ev=PageView&noscript=1

LPL Financial Faces Lawsuit Over Alleged California Labor Code Violations

Posted on August 20th, 2025 at 3:14 PM
LPL Financial Faces Lawsuit Over Alleged California Labor Code Violations

LPL Financial is facing a lawsuit in California Superior Court alleging widespread wage and hour violations affecting non-exempt employees across the state. According to the complaint, and as reported by ThinkAdvisor, LPL allegedly failed to properly calculate sick pay by excluding bonuses from the formula, in violation of California’s labor laws. The plaintiff also claims the firm systematically underpaid overtime by not accounting for all hours worked beyond eight in a day or 40 in a week, and by failing to “true up” overtime pay to reflect bonuses, incentive pay, shift differentials, holiday premiums, and on-call earnings.

According to ThinkAdvisor, the lawsuit further alleges LPL delayed payments for sick time, overtime, and meal or rest break premiums, and did not reimburse work-related expenses such as personal cell phone use. The plaintiff seeks civil penalties and injunctive relief on behalf of current and former LPL employees impacted by the firm’s payroll practices. According to ThinkAdvisor, LPL has not issued a public response.

 

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

Tags: eccleston, eccleston law, lpl financial

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

Thank You from the bottom of our hearts for all you have done for us. When we realized this was a very bad investment - we did not know where to turn for help. Then we received your name. When we called you - you were so kind to us and then agreed to help us. For this we are so very grateful. The world would be a much nicer place if there were more people like the two of you in it. We will always remember all the help and kindness you have shown us. Thank you so very very much for everything.

Wayne and Judy S.

LATEST NEWS AND ARTICLES

1788461574 Law
September 3, 2026
Texas Investment Adviser Faces Washington State Charges Over Misleading Crypto Portfolio Claims

Washington state securities regulators have charged an Austin, Texas registered investment adviser (RIA) and its founder with making misleading statements about the risks tied to one of its model portfolios, which invested heavily in crypto-backed products and volatile exchange-traded funds, according to InvestmentNews.

1788376975 Law
September 2, 2026
Lakers Owner Sells Team for Record $12.5 Billion Amid Federal Probe

Guggenheim Partners CEO Mark Walter has sold his majority stake in the Los Angeles Lakers just as federal regulators investigate potential financial improprieties at insurance and annuities companies that he owns, InvestmentNews reports.

1788292150 Law
September 1, 2026
FINRA Proposes New Rules to Fix Unpopular Arbitrator Selection Process

The Financial Industry Regulatory Authority (FINRA) wants to change how it selects arbitrators when its standard process fails to produce enough available panelists.