Home Depot to pay $87.5M. (to settle gender-discrimination lawsuit)(Brief Article)
HFN: The Weekly Newspaper for the Home Furnishing Network, September, 1997
NEW YORK -- The Home Depot has agreed to pay $87.5 million to settle a California class-action lawsuit involving gender discrimination claims, as well as reaching agreements in principle to resolve three remaining discrimination suits.
Home Depot said it expects to take a onetime pretax charge of $104 million during the fiscal third quarter. The company said in a statement it did not anticipate that "any of the ongoing costs of the terms of the agreements will have a material impact on future financial results of operations."
The settlement was reached during a court-ordered mediation in the California suit.
Terms of the settlement were not disclosed and Home Depot did not admit to any wrongdoing.
The suits were filed by women who...
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