Verizon Asks High Court To Affirm Win In $1B ERISA Suit

Law360, New York (January 20, 2011, 7:44 PM EST) -- Verizon LLC has filed a conditional cross-petition for certiorari with the U.S. Supreme Court in an all-fronts effort to uphold a Seventh Circuit decision that allowed the company to correct a $1 billion transcription error in an employee benefits plan.

Verizon has already detailed why it believes the Supreme Court should not grant cert to a class of plaintiffs challenging the Seventh Circuit ruling under the Employee Retirement Income Security Act, the telecommunications company said in its conditional cross-petition Thursday.

But if the high court does...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.