The $450 million suit, filed in March by a group of former employees, alleged that Wang violated labour laws governing minimum wage and overtime pay. The opposing sides agreed an undisclosed settlement earlier this month, the terms of which prohibit either party from filing an appeal.
We are gratified that this matter has been dismissed, as the allegations were unfounded and completely false, Wangs spokesman told WWD.
Wang vehemently denied the allegations after the initial filing, claiming that the lead plaintiffs were disgruntled and had axes to grind. His lawyers noted that his workspace in lower Manhattan is modern, bright lit, with high ceilings and large windows.