Staples settles overtime lawsuits for $42M

Framingham, Mass. Staples said Friday that it has agreed to pay $42 million to settle several class-action lawsuits related to overtime pay violations.

The retailer was accused of misclassifying assistant store managers as exempt from overtime compensation.

Staples will also drop its appeal of a verdict against the company last year in New Jersey; the $42 million settlement amount includes those associated with the prior New Jersey verdict. “The global settlement involves no admission of wrongdoing in connection with the allegations, which claimed that assistant store managers were misclassified as exempt from overtime pay,” Staples said in a statement.

The global settlement is subject to court approval. It resolves claims dating back to 2002 and covers more than 5,550 current and former employees.