Los Angeles, CA: (Nov-03-07) A wage-and-hour class action lawsuit was brought against Staples Inc., by more than 1,700 current and former California assistant store managers. The suit alleged that the company misclassified assistant managers as being exempt from overtime pay. As part of a settlement agreement reached, sources confirmed that the company agreed to a $38 million payout. Sources stated that the settlement amount, subject to court approval, includes interest and class counsel's attorney fees. Company spokespersons claimed that the company expects to file settlement documentation with the court within the next week. Staples admitted no wrongdoing in connection with the allegations. [
CNN NEWS: STAPLES OVERTIME]
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