Caterpillar, Inc. has reached a $16.5 million settlement with employees. The parties have asked for court approval of the settlement. The U.S. District Court for the Middle District of Tennessee had granted class certification to retired employees and a surviving spouse of a retired employee seeking enforcement of the employer’s alleged promise to pay lifetime retiree health benefits at no cost. Caterpillar Inc., was sued, alleging that the company breached its promise to pay lifetime health benefits at no cost to its retirees and their spouses. Caterpillar had identified 4,480 potential class members.
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