News Bulletin: Settlement Reached in Suit Over Overtime Misclassification

Farmers Insurance Exchange has reached a pricey settlement in a long-running class action lawsuit that accused the company of misclassifying claims adjusters as exempt from overtime. Farmers will pay the entire jury verdict from a 2001 trial of more than $90 million, along with about $80 million in attorney’s fees and interest, and $40 million more to cover overtime pay that has accrued since the original trial.