Law360 (April 24, 2019, 5:11 PM EDT) -- Grocery chain Safeway has agreed to settle two suits brought by workers who accused the company of mismanaging their retirement savings by keeping high-cost investment options in their 401(k) plan.
Safeway, former employee Maria Karla Terraza and current employee Dennis M. Lorenz told a California federal court on Tuesday they have reached an agreement in principle to resolve claims made against the company in their Employee Retirement Income Security Act lawsuits.
The settlement notice didn’t provide any further details of the deal, but did say the parties have agreed that Terraza and Lorenz should be allowed to amend their suits to...
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