Chevron Settles Suit: Chevron U.S.A. agreed to...

Chevron Settles Suit: Chevron U.S.A. agreed to pay $25 million in benefits and claims to terminated employees in a partial settlement of a Gulf Oil pensioners’ class-action suit. The San Francisco-based company, which acquired Gulf Oil Corp. in 1984, agreed to vest pension benefits of all employees fired by Gulf Oil between Jan. 1, 1984, and June 30, 1986. It also agreed to pay severance claims, early retirement benefits, post-retirement medical and life insurance for employees working at operations sold by Chevron and 25% of litigants’ attorney fees.