11:52 AM EDT, 09/02/2025 (MT Newswires) -- Colgate-Palmolive ( CL ) agreed to pay $332 million to settle a class-action lawsuit over employee pension miscalculations, according to a preliminary settlement filed in a Manhattan federal court.

After legal fees, employees are expected to receive $232.7 million.

The settlement, covering 1,177 workers. involves a 2016 lawsuit that focuses on the calculation of annuity benefits under the company's Residual Annuity Amendment.

"Both sides continue to believe in the merits of their respective positions," according to the court filing on Friday. "However, they want to avoid the risk and expense of continued litigation and get the benefits contemplated by this settlement."

Colgate-Palmolive ( CL ) didn't immediately reply to a request for comment from MT Newswires.

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