Colgate-Palmolive Cleared for $332 Million Pension Class Deal

Colgate-Palmolive Co. finalized a $332 million settlement in a long-running class action with about 1,177 retirees who challenged how their pensions were calculated.

The agreement provides certain class members with a one-time lump sum to account for prior payments they claim to have missed, along with future ongoing annuity payments. Judge Lorna G. Schofield of the US District Court for the Southern District of New York granted final approval to the deal Wednesday, adding that she’d address attorneys’ fees in a separate order.

• The decade-long lawsuit says the consumer product maker shortchanged pension benefits by misinterpreting a 2005 plan amendment ...