Novartis resolves US class action on wage and hour claims
The US subsidiary of Swiss drug major Novartis (NOVN: VX) says it has reached an agreement to resolve the nationwide Wage and Hour class action against the company currently pending in the US District Court for the Southern District of New York.
Novartis Pharmaceuticals Corp (NPC) has agreed to end the ongoing proceedings and provide a payment of up to $99 million for eligible class members. This settlement resolves the wage and hour claims brought in 2006, as well as additional wage and hour claims covering a more recent time period. The agreement remains subject to final court approval, which may take several months.
Litigation has been going on for nearly six years
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