Renaissance Co-CEO Mercer Sued by Home Staff for Over Pay

Robert Mercer, co-chief executive officer of Renaissance Technologies LLC, was sued by household staff who said the fund manager didn’t pay overtime and docked wages for not replacing shampoo bottles or straightening pictures.

Mercer, whose Setauket, New York-based hedge fund had $20 billion in net assets in April, levied “demerits” of as much as $20 per infraction on workers at his home in Head of the Harbor, New York, according to a federal lawsuit filed July 10 in Central Islip, New York.