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Sears Holdings Corporation (NASDAQ:SHLD) Former Employee Files Lawsuit Over Alleged Failure To Pay Overtime

  • If you are a California based former employee of Sears Holdings Corporation (NASDAQ:SHLD), who was employed as non-exempt hourly associate by Sears Roebuck and Company in one or more of Sear’s California retail stores between January 6, 2008 and the present, you have certain options and you should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Sears Holdings Corp.
Security

Case Name
Sears Holdings Corp. Employee Lawsuit 11/09/2012
Type of Lawsuit
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Summary

Nov. 12, 2012 (Shareholders Foundation) -- A California-based former employee of Sears Holdings Corporation (NASDAQ:SHLD) filed a lawsuit in California State Court against Sears Holdings Corporation (NASDAQ:SHLD over alleged violations of California labor codes.
According to the complaint the plaintiff alleges that the defendants violated California labor codes as they allegedly failed from January 6, 2008 to present to compensate California hourly employees who were allegedly subject to security searches. Furthermore the plaintiff alleges that Sears Holdings Corporation has denied these employees meal and rest periods.

Sears Holdings Corporation (NASDAQ:SHLD) reported that its Total Revenue fell from $42.66 billion for the 52 weeks period that ended on Jan. 29, 2011 to $41.56 billion for the 52 weeks period that ended on Jan. 28, 2012 and that its Net Income of $129 million for the 52 weeks period that ended on Jan. 29, 2011 declined to a Net Loss of $3.14 billion for the 52 weeks period that ended on Jan. 28, 2012.

Shares of Sears Holdings Corporation (NASDAQ:SHLD) traded in 2010 as high as $122.01 per share, in 2011 as high as $93.03 per share, and in early 2012 as high as $82.55 per share. On November 12, 2012, NASDAQ:SHLD shares closed at $61.44 per share.