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Wal-Mart Settles Overtime Lawsuit For $11 Million - It Plans On Settling 63 Similar Lawsuits

In December 2008, Wal-Mart announced plans to settle wage and hour class-action lawsuits, including the Clinton County case and estimated they would cost the company between $352 million and $640 million.

The company's executive vice-president and general counsel, Tom Mars, said resolving the lawsuits was in the best interest of the company, its employees, and its shareholders. 'Many of the lawsuits were filed years ago and the allegations are not representative of the company we are today.'

The Iowa Independent reported Tuesday that a Clinton County District judge approved the settlement.

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