$8.5M Safeway ERISA Deal Clears Final Hurdle

By Rachel Stone (July 20, 2021, 2:28 PM EDT) -- A California federal judge gave his blessing to an $8.5 million deal resolving a sweeping class action claiming supermarket chain Safeway Inc. mismanaged thousands of workers' retirement savings, after the parties tweaked the pact to address the court's concerns about notifying plan participants.

U.S. District Judge Jon S. Tigar signed an order Monday granting final approval to the revised agreement, more than a year after his March 2020 refusal to OK the deal. Though the judge previously said the pact's plan for notifying roughly 35,000 class members had flaws, he found Monday that the new version, updated in April, gave the...

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