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Mack Trucks, Volvo to pay $525M to settle suit

Mack Trucks, Volvo to pay $525M to settle suit

Mack Trucks Inc. and its parent, Volvo, agreed to pay $525 million to settle a class-action lawsuit filed by more than 9,300 retirees of the North Carolina truck maker after they challenged potential reductions to their lifetime health benefits.
The Legal Intelligencer reported Tuesday that Senior U.S. District Judge R. Barclay Surrick gave preliminary approval of the settlement. A hearing is Sept. 7 to decide if the settlement is fair and reasonable.
The suit was filed in Michigan after Mack sought a ruling that lifetime benefits of its retirees were not vested and could be modified or eliminated. Both cases were consolidated in the Eastern District of Pennsylvania.


Updated : 2021-08-02 08:32 GMT+08:00