Medical device maker Wright Medical Group Inc. said Wednesday it settled all litigation with its former employees in Toulon, France for about $4.5 million.
Employees had filed claims to challenge the economic justification for their dismissal following the closing of the company's facility in Toulon. The company focuses on orthopedic devices for the foot and ankle.
Wright Medical said it will pay former employees about $4.5 million, plus additional amounts payable under French law. It had previously paid $1.3 million and the remaining $3.2 million is expected to be paid during the fourth quarter.
Wright Medical said the settlement costs will not have a material impact to its financial results.
Shares of Wright Medical fell a penny to close at $14.