Settlement submitted in Swift Misclassification lawsuit

Apparently a settlement agreement has been agreed to by Getman and Swift.

A fund is going to be set up in the amount of $100 million to be distributed to some 20,000 drivers. after lawyers fees and taxes… The average pay out will probably be in the $3,000 range per driver. The actual amount will vary based on number of weeks employed, assumed hours worked, and amount paid during that period. By my estimates that means the average payout could be as little as $500 per driver and checks may not go out until late 2019 or early 2020, if the agreement is approved by the court.

From freightwaves.com

Knight-Swift said in a statement that the amount of settlement had been accounted for on its balance sheet as of December 31, 2018, and “does not expect that the settlement will have a material impact on its future results of operations.”

Personally I think if it didn’t impact their operations, it was too light of a punishment for stealing from us to benefit themselves.

You can read the proposed Settlement Agreement here.