USA: The Coca-Cola Company announces settlement terms of discrimination lawsuit
The Coca-Cola Company (NYSE: KO) announced yesterday the settlement terms of a class action discrimination lawsuit consisting of both monetary and programmatic elements.The Company said the monetary settlement includes cash payments to fund back pay, compensatory damages, a promotional achievement fund, and attorneys' fees. In addition, the Company introduced a wide range of training, monitoring and mentoring programs. The Company is also making a $50 million donation to The Coca-Cola Foundation to continue its broad range of community support programs.Based on all payments and initiatives related to the settlement, the Company will record a one-time charge of $188 million in the fourth quarter.
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