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Wal-Mart Stores Hit With $4.8m Payout


Wal-Mart Stores Inc. (NYSE:WMT) has agreed to pay $4.8 million for overtime violations.

Wal-Mart Stores Hit With $4.8m Payout

According to the US Labor Department, retail giant Wal-Mart Stores Inc. (NYSE:WMT) will pay $4.8 million in back wages and damages to more than 4,500 employees nationwide for unpaid overtime.

Wal-Mart Stores Inc. (NYSE:WMT) spokesman Greg Rossiter said, “The company took the allegations seriously when they were first raised in 2007 and immediately corrected the way it classified the employees. We adjusted our pay practices at that time and determined that back wages should be paid for the associates involved.”

Wal-Mart Stores Inc. (NYSE:WMT) shares were at 58.99 at the end of the last day’s trading. There’s been a -4.8% change in the stock price over the past 3 months.

Wal-Mart Stores Hit With $4.8m Payout
Wal-Mart Stores Inc. (NYSE:WMT) Analyst Advice
Consensus Opinion: Hold
Mean recommendation: Error
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: Error
Zack’s Rank: 6 out of 18 in the industry


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