ABM Reaches Settlement in Overtime SuitJuly 9, 2021
ABM has entered a written settlement in the class action lawsuit ABM Industries Overtime Cases currently pending in the Superior Court of California, County of San Francisco.
The case, originally filed in 2006, relates to a legacy timekeeping system ABM has not used since 2013. The agreement calls for ABM to admit no wrongdoing and pay US$140 million to resolve claims asserted by the suit’s plaintiffs. The settlement is now subject to court approval.
“We are confident this settlement is in the best interests of ABM and our stakeholders, as it removes the ongoing costs and uncertainty associated with protracted litigation. Our strong financial position, free cash flow, and recently increased credit line provide us with significant resources to pursue our strategic growth priorities,” said Scott Salmirs, ABM president and CEO.
ABM is a provider of building maintenance and facility services across the United States and Canada, offering customized solutions for cleaning, engineering maintenance, and commercial building maintenance. For more information, visit www.abm.com.