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Gymboree Settles Claims on California Class Action Wage-And-Hour Lawsuit

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Case ID: 4551 | Employment | 11/22/2005

Gymboree Reaches Agreement to Settle Claims on California Class Action Wage-And-Hour Lawsuit. The Gymboree Corporation reached an agreement to settle claims on a California class action wage-and-hour lawsuit.

The settlement is subject to court approval.

As part of the agreement, the children's apparel retailer will pay $2.3 million, payable on a claims-made basis.

The company said it will record a $1.5 million after-tax charge during the third quarter. Although Gymboree does not expect the settlement to have a material effect on future earnings, the company lowered fiscal-year earnings projections.


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