FedEx Proposes $228M Settlement for Employee Misclassification Suit

FedEx has agreed to settle a class-action lawsuit alleging that it misclassified 2,600 drivers in California and Oregon for $228 million. As of Monday, FedEx had not filed any documentation of the proposed settlement with the U.S. District Court, Northern District of California, where the case is being heard. But a document the company filed with the U.S. Securities and Exchange Commission on Friday said the plaintiffs have agreed in principle to the $228 million settlement. FedEx has already set aside $197 million in reserves to cover the cost. The move comes more than nine months after Fed...