Filed under: Wal-Mart (WMT), Columns

Welcome to the 91st installment of The Wal-Mart Weekly, a column dedicated to bringing you insight, wit, facts, results, opinions, and just a bit of everything else when it comes to a very hot topic these days: Wal-Mart.

Wal-Mart Stores, Inc. (NYSE: WMT) has just settled a staggering amount of lawsuits, patching together 63 federal and state class-action suits under one umbrella for what could amount to a $640 million hit to the world’s largest retailer. For a company that makes in excess of $10 billion in profit every fiscal year, that amount sounds like a pittance.

With one swoop, Wal-Mart ended almost all of its outstanding class-action lawsuits dealing with labor accusations of unpaid overtime and working during break times, among many other things. The settlement also comes just a few weeks after a massive settlement in Minnesota. Perhaps Wal-Mart wants to wrap as much as it can into 2008’s bottom line? Wal-Mart will take a Q4 hit of $250 million for the collective settlements.

Continue reading Wal-Mart Weekly: Settling 63 lawsuits at one time

Wal-Mart Weekly: Settling 63 lawsuits at one time originally appeared on BloggingStocks on Tue, 30 Dec 2008 15:14:00 EST. Please see our terms for use of feeds.

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