September 18, 2024
Citgo struck a deal to settle a class action alleging it shorted retirees in early retirement payouts by basing the allowances on outdated mortality tables that used data from the 1970s, according to a joint notice filed in Illinois federal court.
Citgo Petroleum Corp. and a class of retirees alerted the court in a joint notice Tuesday that they reached a tentative deal to resolve the suit alleging violations of the Employee Retirement Income Security Act, scrapping a bench trial that had been scheduled for Nov. 4. The details of the deal were not shared with the court.
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The retirees are represented by Kai Richter, Michelle C. Yau, Daniel J. Sutter, Ryan Wheeler, Carol V. Gilden and Eleanor Frisch of Cohen Milstein Sellers & Toll PLLC, Rachana A. Pathak, Peter K. Stris, Victor O’Connell and John Stokes of Stris & Maher LLP, Todd Jackson and Nina Wasow of Feinberg Jackson Worthman & Wasow LLP, and Shaun P. Martin of the University of San Diego Law School.
Read Citgo Settles Retirees’ Suit Over Outdated Mortality Data.