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