H&M to pay $36 million over unused gift cards, in settlement with New York By Reuters


© Reuters. FILE PHOTO: The H&M clothing store is seen in Times Square in Manhattan, New York, U.S., November 15, 2019. REUTERS/Mike Segar

NEW YORK (Reuters) – New York’s attorney general said on Thursday her office has recovered $36 million from the fashion retailer H&M for unlawfully keeping money in unused gift cards.

Attorney General Letitia James said the company, H&M Hennes & Mauritz AB (ST:), will pay more than $28 million to the state, while a whistleblower will receive $7.74 million.

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