Home Depot Inc HD will reportedly settle a long-running lawsuit for underpaying workers in California by paying $72.5 million.
The settlement proposal was filed in a San Francisco federal court and will need to be approved by a judge, reported Reuters.
About half of the total settlement will go to the hourly wage employees.
The hourly employees worked closing shifts and were made to wait off-the-clock after stores were locked.
About 41% of the remaining amount will be given to the employees who remained unpaid for time needed to collect and put on aprons.
Also Read: Home Depot Reaffirms FY23 Guidance; Provides Market Stability Outlook
The rest 9% will be paid to the workers who lost pay as the largest U.S. home improvement retailer rounded off their coming in and going out times.
The lawsuit was filed in March 2016, and a trial was slated to take place this year.
According to the court papers, Home Depot denied any wrongdoing but agreed to settle to avoid litigation uncertainty.
The settlement will cover more than 272,000 workers.
Also Read: Morgan Stanley Reaffirms Home Depot's Positive Outlook And Potential EBIT Margin Expansion
Price Action: HD shares are trading higher by 0.24% at $301.90 on the last check Friday.
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