Wells Fargo Settles Overtime Class Action For $12.8M

Law360 (October 9, 2006, 12:00 AM EDT) -- A federal judge on Friday gave preliminary approval for Wells Fargo & Co. to pay $12.8 million to settle a class action lawsuit regarding overtime pay.

The $12.8 million will compensate the plaintiffs for their damages, including attorneys' fees and costs, notice and administration expenses. In addition, defendants will also pay the employer portion of payroll taxes due on wage payments to the lead plaintiffs and the settlement class, according to court documents.

As part of the settlement, the defendants denied any wrongdoing.

The preliminary approval certified class action status for two classes for the purpose of the settlement.

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