May 12, 2010
Wal-Mart Stores, Inc. has announced the settlement of a wage-and-hour class action lawsuit that has been pending against the company for several years. The case is Ballard v. Wal-Mart Stores, Inc., currently pending in the United States Court of Appeals for the Ninth Circuit in San Francisco, California.
The settlement is subject to approval by the applicable trial and appellate courts, and the total to be paid by the company will depend on the number and amount of claims that are submitted by class members. Under the settlement agreements, the total will be at least $43 million, but no more than $86 million. In addition, Walmart has agreed to continue the use of various electronic systems and other measures designed to maintain compliance with its wage-and-hour policies and applicable law.
The settlement will not impact the company’s results of operations for the first or second quarter of fiscal 2011.