Home Depot, the world's largest home improvement retailer, has agreed to a nearly $2 million settlement in a lawsuit alleging that it overcharged customers by having higher prices at checkout than the advertised prices on items or shelf tags.
As part of the settlement, Home Depot has agreed to implement several measures to ensure price accuracy and consumer protection:
The $2 million settlement will be distributed as follows:
Los Angeles County District Attorney George Gascón, representing the lead plaintiff, suggested that the price discrepancies were not an oversight, stating:
"When companies engage in deceptive practices, they not only cheat consumers but also gain an unjust advantage over businesses that operate ethically and transparently."
In response to the settlement, Home Depot stated: "To ensure consistency for our customers, we've updated the timing of our price changes."
According to a proxy statement, Home Depot reported nearly $22 billion in operating profit for the 2023 fiscal year.
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