Wal-Mart To Pay $86 Million To Settle Lawsuit

Retail giant Wal-Mart has agreed to pay $86 million to settle a class-action lawsuit alleging that it underpaid employees in California.

The settlement includes $12 million in vacation pay and $74 million in unpaid wages to terminated workers. About 232,000 former employees will share the settlement.

The case comes from two lawsuits against the world's largest retailer filed in federal court in Northern California and consolidated four years ago. The action, which was disclosed in court filings Tuesday, still requires a judge's approval.

Wal-Mart spokesman Greg Rossiter had no comment on the reports of the settlement.

In a statement on its website, the company says the settlement will not affect results of the first or second quarters of fiscal 2011.

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