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It was unclear Wednesday how many people would be paid as a result of the settlement, but more than 2,000 current and former employees may be entitled to back pay dating as far back as 2003, according to estimates an attorney for the plaintiffs made in October.
A message seeking comment Wednesday from that attorney, Matthew Helland of the Minneapolis- and San Francisco-based firm Nichols, Kaster and Anderson, was not returned.
Two former assistant general managers of Fastenal stores in California and Pennsylvania filed the suit in October 2007 in U.S. District Court in California. While their status exempted them from state and federal overtime laws, they claimed non-managerial duties entitled them to overtime pay.
The suit also claimed assistant general managers were not given sufficient meal and paid breaks as mandated by state labor law.
Fastenal denied any wrongdoing and entered the settlement to avoid further costs, a jury trial and other distractions, according to documents filed with the Securities and Exchange Commission.
John Milek, general counsel for Fastenal, said an agreement between the parties prevented him from offering any further details. A fairness hearing has been set for Dec. 8 in California, he said.
