Preliminary Approval Of $8.5M Settlement Sought In Safeway Fiduciary Breach Suit

Mealey's (September 18, 2019, 10:29 AM EDT) -- SAN FRANCISCO — A California federal court should grant preliminary approval of an $8.5 million class settlement reached in a breach of fiduciary suit alleging that Safeway Inc. mismanaged its 401(k) plan because the settlement is fair and represents a strong achievement for the parties, the plaintiffs maintain in a Sept. 13 motion for preliminary approval of the settlement (Maria Karla Terraza v. Safeway Inc., et al., No. 16-3994, N.D. Calif., 2019 U.S. Dist. LEXIS 65237)....