Colgate-Palmolive, Retirees Strike Deal in Lengthy Pension Spat

Colgate-Palmolive Co. reached a settlement with a class of about 1,100 retirees challenging their pension calculations, ending a long-running legal battle that’s made multiple trips to the Second Circuit.

The parties reached an agreement with the help of a private mediator and plan to submit paperwork to have the settlement approved by Aug. 15, they told Judge Lorna G. Schofield. Their letter, filed Thursday in the US District Court for the Southern District of New York, didn’t include details about the terms of the agreement.

Colgate and its employees have been fighting over pension benefits since 2007, when ...