Volvo, Mack Trucks to pay $525 mln to end lawsuit

Volvo AB (VOLVb.ST) has agreed to pay $525 million to settle a class-action lawsuit by more than 9,300 retirees, who accused its Mack Trucks Inc unit of illegally reducing their lifetime health benefits.

U.S. District Judge R. Barclay Surrick granted preliminary approval of the settlement on May 12, a filing with the U.S. District Court in Philadelphia showed.

Read the complete Reuters story, "Volvo, Mack Trucks to pay $525 mln to end lawsuit."

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