Safeway Cleared for $8.5 Million Deal to End Two 401(k) Lawsuits

Safeway Inc. received final approval for an $8.5 million class settlement resolving two lawsuits over its 401(k) plan, according to an order from the California federal judge who initially declined to sign off on the deal.

The deal, which is slated to benefit 35,000 participants in the grocer’s 401(k) plan, received final approval on Monday from Judge Jon S. Tigar of the U.S. District Court for the Northern District of California. Tigar also awarded class counsel about $3 million in attorneys’ fees and expenses.

Tigar initially declined to approve the deal after finding the parties’ proposed notice to class members …