US grocery retailer Safeway and its management and board have been sued by two pension funds, alleging insider misconduct, mismanagement and deceit.
Go deeper with GlobalData
The Pinellas Park General Employees’ Pension Fund and the Pompano Beach Police & Firefighters Retirement System filed civil lawsuits late last week in the San Mateo County Superior Court, reported Dow Jones International News.
Safeway, which is currently grappling with the ongoing grocery workers strike in California, has said the suits are without merit, and that they are part of an attempt to discredit Safeway by labour leaders representing striking workers at its Vons chain in California.
Meanwhile, as the strikes continue, three customers have filed a lawsuit alleging that Albertsons, Kroger’s Ralphs chain and Vons are engaging in unfair competition. The suit seeks damages and a court order to stop the companies from aiding each other financially, referring to the grocers’ agreement to divide strike-related costs, reported Reuters.
Talks between union representatives and the three grocery chains were expected to resume at the weekend.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
