Colgate-Palmolive’s Pension Class Deal Nabs Lawyers $96 Million

Lawyers for Colgate-Palmolive Co. retirees secured more than $96 million in attorneys’ fees after negotiating a $332 million class settlement over the consumer product maker’s pension calculations.

Judge Lorna G. Schofield on Tuesday granted the lawyers’ fee request, saying 29% of the settlement amount was reasonable given the complexity, magnitude, and duration of the case. Schofield, who sits in the US District Court for the Southern District of New York, also approved $2.9 million in litigation expenses and a $10,000 service award for named plaintiff Rebecca McCutcheon.

• The decade-long lawsuit accused the company of shortchanging pension benefits by misinterpreting a ...