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Fastenal Company
Fastenal Company - Announces Preliminary Agreement to Settle Purported Class Action Lawsuit
September 13th, 2008
Fastenal Company (NASDAQ:FAST) announced that it has reached a preliminary agreement to settle a purported class action lawsuit relating to the classification of its Assistant General Managers as exempt for purposes of the overtime provisions of the Fair Labor Standards Act (FLSA) and California, Oregon, and Pennsylvania state statutes. This suit also alleged that Assistant General Managers in California did not receive sufficient meal breaks and paid rest periods under the California Labor Code (Note: This case was originally reported on Fastenal's Form 10-Q for the quarter ended September 30, 2007, filed on October 31, 2007). The details of this preliminary settlement...
Source: Law & Health Weekly (2008-09-13)
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