Dick’s settles class action lawsuits
Dick's Sporting Goods (NYSE: DKS) said it has agreed to pay up to $15 million to settle various class action lawsuits that had alleged a failure to pay overtime and other promised wages.
The settlement will result in a pretax charge of about $15 million in the fourth quarter, it said in a filing with the SEC.
The settlement, subject to the approval from a federal court in New York, covers wage and hour claims under the laws of 36 states, it added. The settlement will also include interest and taxes.
The company filed to settle Tamara Barrus et al. vs. Dick's Sporting Goods and 22 related wage and hour class action lawsuits pending against the company and five individual defendants.
--Compiled by Wendy Geister
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