A settlement has been reached with two purported class action lawsuits filed on behalf of California managerial employees. The first suit claimed that salaried California store managers may be entitled to overtime pay, and the second suit challenged the company's calculation of store managers' profit sharing. The company will pay $7.6 million in cash and $1.5 million in scrip redeemable in its stores. (Sep-24-03) [PRESS RELEASE]
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