Zillow (Z) Enters Settlement with U.S. Labor Dept. Over Compliance Review
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Zillow (NASDAQ: Z) disclosed the following in a U.S. SEC filing on Monday:
Item 8.01 Other Events.
As previously disclosed, on May 5, 2016, Zillow, Inc. (“Zillow”) agreed to settle a class action lawsuit in the United Stated District Court, Central District of California, with the caption Ian Freeman vs. Zillow, Inc., which involved allegations that Zillow failed to provide meal and rest breaks, failed to pay overtime, and failed to keep accurate records of employee’s hours worked, in compliance with the Fair Labor Standards Act (the “FLSA”) and California law with respect to certain inside sales consultants. The settlement, which includes payment by Zillow of up to $6,000,000, is subject to court approval and contingent upon Zillow’s resolution of a review by the Wage and Hour Division of the U.S. Department of Labor (the “DOL”) of Zillow’s compliance with certain wage and hour laws with respect to Zillow inside sales consultants employed in its California and Washington offices during a two year period between 2013 and 2015.
On November 28, 2016, Zillow entered into a settlement agreement with the DOL that will resolve the DOL’s compliance review. Under the terms of the settlement agreement, Zillow agreed that it will make the voluntary payments contemplated by the Freeman settlement and establish and maintain certain procedures to promote future compliance with the FLSA. The settlement agreement with the DOL does not require Zillow to make any payments which are in addition to those contemplated by the Freeman settlement.
Zillow has not admitted liability with respect to either the DOL settlement or the Freeman settlement.
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