A federal judge in Chicago approved a $14.75-million settlement Monday between CITGO Petroleum Corp. and retirees who claimed the gas and energy company miscalculated and shorted their pension benefits.
The 1,700-member class will receive $10 million in increased benefits, and attorneys representing the retirees, Cohen Milstein Sellers & Toll with California-based firms Stris & Maher and Feinberg Jackson Worthman and Wason, will receive $4.75 million in attorney fees. The three named plaintiffs will each receive $25,000 from the attorney fees as class representative service awards.