LBI Media Settles Employee Suit
May 17, 2007 at 5:45 AM (PT)
In the SEC 10-Q filing of its previously reported first-quarter financial results, LBI MEDIA notes that it has reached a preliminary settlement in a case brought against it for wage and hour violations relating to overtime pay, and wrongful termination and unfair competition under the CALIFORNIA Business and Professions Code.
Eight former employees of the company's CALIFORNIA subsidiary sued and looked to make the suit a class action, and LBI denied the allegations. The company has set aside a litigation reserve of $350,000 for the matter and reached a tentative settlement on APRIL 16.