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Wal-Mart Stores, Inc.
Wal-Mart and Plaintiffs' Counsel Announce Settlement of Most Wage and Hour Class Action Lawsuits Against the Company
January 11th, 2009
Today Wal-Mart Stores, Inc. (NYSE:WMT) and attorneys for the plaintiffs jointly announced the settlement of 63 wage and hour class action lawsuits that have been pending against the company for several years. Each of the settlements is subject to approval by the trial court, and the total amount to be paid will depend on the amount of claims that are submitted by class members. Under the agreements, the total will be at least $352 million, but no more than $640 million. Also, as part of the settlements, Wal-Mart has agreed to continue to use various electronic systems and other measures designed to maintain compliance with its wage and hour policies and applicable...
Source: Pharma Investments, Ventures & Law Weekly (2009-01-11)
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