Fastenal Company (FAST) Announces Preliminary Settlement in Class Action Suit
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Fastenal Company (Nasdaq: FAST) has reached a preliminary agreement to settle a purported class action lawsuit relating to the classification of its Assistant General Managers as exempt for purposes of the overtime provisions of the Fair Labor Standards Act (FLSA) and California, Oregon, and Pennsylvania state statutes.
This suit also alleged that Assistant General Managers in California did not receive sufficient meal breaks and paid rest periods under the California Labor Code.
Fastenal Company (Fastenal) sells industrial and construction supplies in a wholesale and retail fashion.[SM]
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