Wal-Mart settles class-action lawsuit in Oklahoma
By:
Updated: April 17, 2007
A Federal Judge in Tulsa approved the settlement Monday, in the lawsuit over Wal-Mart`s right to keep "Corporate Owned Life Insurance" ("COLI") death benefits received from the death of its employees.
The families or estates of the deceased Wal-Mart employees in Oklahoma will get between $35,000 and $50,000 as part of the settlement.
According to Michael D. Myers, lead counsel for the plaintiffs, it`s not uncommon for companies to take out insurance policies on their employees- and it`s also not uncommon to find out the employees don`t know.
Myers said class members will receive claim forms later this month, with instructions to fill them out and return them to participate in the settlement.
(Copyright 2006 Newsroom Solutions, LLC)
