Comcast Hit With Stock Option ERISA Suit

Law360, New York (February 20, 2008, 12:00 AM EST) -- A putative class action has targeted Comcast Corp. for offering stock in employee pension benefit plans throughout 2007 despite allegedly knowing Comcast shares were no longer a prudent investment, in violation of the Employee Retirement Income Security Act.

One former employee and participant in two plans filed suit against the U.S.'s largest cable company on Feb. 15 in the U.S. District Court for the Eastern District of Pennsylvania.

The plaintiff, Robert Urban, said he was suing on behalf of all employees who participated in the Comcast...
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