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Duane Reade Holdings, Inc.
Duane Reade Holdings, Inc. Reports $3.5 Million Litigation Settlement
February 1st, 2009
Duane Reade Holdings, Inc. reported that, without admitting liability, it has entered into a Memorandum of Understanding to settle two class action cases for $3.5 million. The two class action cases concern the Company's alleged past payment practices for certain overtime and employee non-exempt classifications. These cases are more fully described in the Company's quarterly and annual SEC filings on Forms 10-Q and 10-K and are referred to as Damassia v. Duane Reade Inc. and Chowdhury v. Duane Reade Inc. and Duane Reade Holdings Inc. The settlement is subject to the approval of the U.S. District Court for the Southern District of New York. While the Company believes it...
Source: Pharma Investments, Ventures & Law Weekly (2009-02-01)
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