Fastenal Reaches $10M Deal In OT Class Case

Law360, New York (September 5, 2008, 12:00 AM EDT) -- Fastenal Co. would cough up $10 million to settle a wage-and-hour collective action under a settlement deal that the fastener distributor and the plaintiffs — assistant general managers who claimed they were misclassified as exempt from overtime pay requirements — asked a district court to approve on Tuesday.

Attorneys for Fastenal and the plaintiffs signed off on a joint stipulation of settlement and release submitted to the U.S. District Court for the Northern District of California for preliminary approval earlier this week.

In an April 29...
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