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Fastenal Agrees To $10M Settlement

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Sep 4, 2008 7:03 am US/Central

Fastenal Agrees To $10M Settlement

WINONA, Minn. (AP) ― Fastenal Company says it will pay a $10 million class-action settlement to former employees who sued the company last year for unpaid overtime wages and work-break pay.
  
It's unclear how many people would be paid as a result of the settlement. But according to estimates made in October by an attorney for the plaintiffs, more than 2,000 current and former employees of the Winona-based industrial supplies seller may have been entitled to back pay from as far back as 2003.
  
Two former assistant general managers of Fastenal stores in California and Pennsylvania filed the lawsuit last October in U.S. District Court in California. Their classifications exempted them from state and federal overtime laws, but they claimed their actual, non-managerial work duties entitled them to overtime pay.
  
Fastenal has denied any wrongdoing in the case, but entered the settlement to avoid costlier litigation, an uncertain jury trial and other expenses.

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