UPDATE 2-Volvo, Mack Trucks to pay $525 mln to end lawsuit

300 retirees affected (Adds background, details of settlement, byline) By Jonathan Stempel NEW YORK, May 17 (Reuters) - Volvo AB (VOLVb.ST U.S. District Judge R. Barclay Surrick granted preliminary approval of the settlement on May 12, a filing with the...