International Business Machines Corp.

A class action lawsuit was filed in the Northern District of California alleging IBM did not pay overtime to thousands of technical services professionals and information technology specialists. Nearly 32,000 current and former employees throughout the United States alleged they were classified as exempt from overtime under the Fair Labor Standards Act and certain state laws when they should have been nonexempt and compensated for overtime. IBM has settled the overtime class action lawsuit for $65 million. (Nov-23-06) [THE JOURNAL NEWS: IBM OVERTIME]