Lawyers in a class action lawsuit brought by employees against Krispy Kreme Doughnuts in March 2005 have filed a proposed $4.7 million settlement in federal court in Greensboro, N.C. The suit alleged that workers lost millions of dollars in retirement savings because executives hid evidence of declining sales and profits from early 2003 on. If approved, the settlement would see class members divide the $4.7 million and allow workers to transfer stock from profit-sharing plans into their 401(k) plans.
August 28, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Lawyers in a class action lawsuit brought by Krispy Kreme workers against the troubled doughnut maker have filed a proposed $4.7 million settlement of the case in federal court in Greensboro, N.C.
The lawsuit, filed in March 2005, alleged that workers lost millions of dollars in retirement savings because company executives hid evidence of declining sales and profits from early 2003 on.
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