RadioShack to Pay $8.8 M in Settlement

Tustin, Calif., RadioShack Corp. will pay about $8.8 million in a class action settlement with current and former store managers who sought recovery of unpaid overtime wages, an attorney for some of the managers said Monday.

Three federal district courts approved the settlement for a series of lawsuits brought by the managers against the consumer-electronics retailer. The courts' approval follows a conditional settlement reached by the more than 4,000 managers and RadioShack in June 2006.

The managers claimed in their lawsuits that RadioShack had misclassified them as employees exempt from overtime pay.

The cases were initially filed in 2002.