Suit Claims Sprint Mismanaged Retirement Plans

Law360, New York (May 2, 2008, 12:00 AM EDT) -- Wireless communications provider Sprint Nextel Corp. is the latest company to be hit with a putative class action on behalf of workers alleging their employee retirement plans heavily invested in poorly performing company stock.

The lawsuit, alleging violations of the Employee Retirement Income Security Act, follows in the footsteps of similar complaints lodged recently by workers against cable giant Comcast Corp., technology company Electronic Data Systems Corp. and health insurer Humana Inc.

The plaintiff, Cynthia Calhoun, filed the lawsuit Thursday in the the U.S. District Court...
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