FASHION LAW: CONDÉ NAST TAKES OFF THE GLOVES IN CLASS ACTION SUIT
Purveyor of multiple notable lifestyle magazines, Condé Nast has finally hit the final stages of their settlement to multiple former interns. The class action suit filed last April has been one of the multiple disgruntled intern cases that have sprung up in the fashion world: ranging from retail to modeling to publication. Although the specific quantity of the class action suit is still being negotiated, the notorious publisher has reached an agreement to pay $5.8 million, or $700 – $1,900 per intern.
Condé Nast CEO Chuck Townsend has sent out an internal memo, which was forwarded to Fashionista, stating that the lawsuit is near a close and that agreeing to pay the settlement was “the right business decision … as it allows us to focus our time and resources on developing meaningful, new opportunities to support future up-and-coming talent.”
Perhaps, they will start up a brand new internship system? Or should we start opting for more intern unions?