Disney to pay $233M to settle ‘wage theft' suit from Disneyland workers
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Disney has agreed to pay $233 million to settle a lawsuit from Disneyland workers who claimed the company failed to meet local minimum wage requirements in Anaheim.
December 16, 2024 | 6:15 pm
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Disney is settling a $233 million lawsuit with Disneyland workers over allegations of wage theft, which claimed the company did not meet local minimum wage requirements.
The settlement of $233 million resolves a significant legal issue for Disney, which could have been a source of uncertainty for investors. However, the financial impact is likely manageable for a company of Disney's size, and the resolution may be seen as a positive step in addressing labor issues. Therefore, the short-term impact on Disney's stock price is expected to be neutral.
CONFIDENCE 95
IMPORTANCE 70
RELEVANCE 90