PwC settles long-running retiree class action for $267 million

PricewaterhouseCoopers LLP will pay $267 million to settle a 16-year-old class action by retirees seeking higher pension benefits and challenging various aspects of the company’s pension plan, according to a filing in the Southern District of New York, Bloomberg Law reports. The deal is expected to pay an average of about $11,000 to each of 16,000 former participants in the PwC plan.