David Copperfield Agrees to $500,000 Settlement in Employee Lawsuit

David Copperfield Agrees to $500,000 Settlement in Employee Lawsuit

Looks like David Copperfield is ready to make a big chunk of money disappear from his bank account.

The famous magician is looking to settle a lawsuit brought against him by former and current employees of his show at the MGM Grand Hotel and Casino in Las Vegas, according to court papers obtained by TheWrap.

Also Read: David Copperfield Sued For Allegedly Stiffing Vegas Show Employees on Overtime

A U.S. district court judge in Nevada has approved a motion for preliminary approval of settlement, which would find Copperfield and the other defendants shelling out $552,282.74.

The lawsuit was filed in February 2014 by a group of employees from his Vegas magic show claiming that they were stiffed out of overtime pay that was due to them.

The suit accused Copperfield of “consciously implement[ing] a system of coercion and deception aimed at denying employees their rights to overtime pay.”

See photos: Hollywood’s Most Outrageous Lawsuits

According to the joint motion for preliminary approval of the settlement, the proposed settlement amount breaks down to a back-pay award of $181,141.37, which was “doubled to take into account applicable liquidated damages,” as well as “an additional $190,000 as a Named Plaintiffs Award to be divided among the fifteen (15) named plaintiffs.”

In addition to the plaintiffs named, the settlement would cover opt-in plaintiffs including all “non-exempt present and former employees of Defendant Backstage Employment and Referral, Inc. who were employed at any time between January 1, 2012 and December 31, 2013″ as part of Copperfield’s Las Vegas magic show or as executive assistants to Copperfield “indirectly related to the performance of his show.”

Under the proposed settlement, the defendants — who, in addition to Copperfield, include Christopher Kenner, David Copperfield’s Disappearing Inc., Backstage Employment and Referral Inc, and Imagine Nation Company — “continue to deny liability under any of the Plaintiff’s claims.”

See video: Andy Samberg and Seth Meyers Debate David Copperfield’s Penis: ‘Magic’ or ‘Hung Like a Rhinocerous’

If the settlement goes through, class members of the suit would receive “on average $6,355.84 in overtime pay and liquidated damages,” which is “very significant when compared to similar collective action cases,” the motion for preliminary approval of the settlement says.

A fairness hearing for the proposed settlement is scheduled for May 26.

Pamela Chelin contributed to this report.

Related stories from TheWrap:

Hollywood's Most Outrageous Lawsuits (Photos)

Andy Samberg and Seth Meyers Debate David Copperfield's Penis: 'Magic' or 'Hung Like a Rhinocerous' (Video)

David Copperfield Sued For Allegedly Stiffing Vegas Show Employees on Overtime