Verizon Fights Retiree Suit Over $7.4B Pension Transfer

Law360, New York (March 7, 2014, 8:06 PM EST) -- Verizon Communications Inc. on Friday asked a Texas federal judge to dismiss again claims from a class of retirees who allege their savings were put at risk when the company transferred $7.4 billion in pension obligations to Prudential Insurance Co. of America.

In oral argument on Verizon’s motion to dismiss, the tech giant argued that a repleaded complaint from the retirees has the same defects as the allegations the retirees already made — including a failure to establish standing by showing they would be personally harmed through...
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