Dallas, TX: (May-09-08) A class action lawsuit was brought against Texas Instruments Inc., alleging that the chip maker withheld overtime pay from certain employees of its manufacturing plants. In a recent development in the suit, sources on both sides of the dispute stated that a settlement has been reached, in which the chip giant agreed to pay more than $355,000 to resolve allegations.
Under the terms of the settlement agreement, in a May 2, 08 filing in federal district court in Dallas, Texas Instruments stated that $65,000 of the payout will be divided up among an unknown number of affected employees. Additionally, Texas Instruments also agreed to pay each plaintiff $1,100. $250,000 in legal fees will be paid by the company, along with $40,000 in court costs. Sources stated that it is still unclear from the court filings how many plaintiffs will participate in the settlement. [
