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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

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