$ 8.5 million Safeway ERISA deal breaks final hurdle

By Rachel Stone (July 20, 2021, 2:28 p.m. EDT) – A California federal judge has blessed an $ 8.5 million deal resolving a large class action lawsuit claiming supermarket chain Safeway Inc. has mismanaged thousands of workers’ retirement savings after the parties amended the pact to address the court’s concerns about notification of plan participants.

U.S. District Judge Jon S. Tigar on Monday signed an order granting final approval to the revised deal, more than a year after his March 2020 refusal to accept the deal. Although the judge previously said the pact’s plan to notify around 35,000 members of the group was flawed, he found out on Monday that the new version, updated in April, gave the …

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