Colgate To Pay $45.9M To Settle ERISA Suit

Law360, New York (October 10, 2013, 3:46 PM EDT) -- Colgate-Palmolive Co. has agreed to pay $45.9 million to settle consolidated class action litigation accusing the company of miscalculating employees' retirement benefits, ending a more than six-year legal battle, according to a proposed agreement filed in New York federal court Wednesday.

Under the proposed settlement, each of the 8,600 employees that comprise the class would receive on average approximately $5,300 to resolve claims — consolidated in October 2008 — that the toothpaste maker and its cash-balance retirement plan failed to pay former employees their full accrued...
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Case Information

Case Title

In re: Colgate-Palmolive Co. ERISA Litigation


Case Number

1:07-cv-09515

Court

New York Southern

Nature of Suit

Labor: E.R.I.S.A.

Judge

Lorna G. Schofield

Date Filed

October 24, 2007

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