November 22, 2023
A New York federal judge has awarded $10 million to attorneys representing a class of Verizon workers suing the telecommunications giant over claims a shoddy investment option lost their 401(k) plan millions of dollars.
October 20, 2023
A class of participants in Verizon's 401(k) plan asked a New York federal court to approve a $10 million payment for its attorneys following preliminary approval of a $30 million settlement to resolve claims that a shoddy investment option lost the plan millions of dollars.
July 11, 2023
Verizon workers revealed details in a New York federal court filing for a $30 million deal to settle claims that about 160,000 current and former workers who participated in Verizon's 401(k) plan lost retirement savings through an underperforming hedge fund, seeking to end the seven-year-long case.
June 05, 2023
Verizon told a New York federal judge Monday that it has reached a deal to end a class action brought on behalf of some 200,000 401(k) plan participants who alleged they lost retirement savings through a shoddy investment option, staving off a trial that had been set for July.
April 24, 2023
A New York federal judge ruled that Verizon has to face a 200,000-member class action claiming the company violated federal benefits law by allowing a lackluster fund to remain in its 401(k) roster, saying Verizon hadn't explained why it kept that fund in its lineup.
September 29, 2020
A New York federal judge on Tuesday certified a class of potentially more than 200,000 participants in a Verizon 401(k) plan, rejecting the company's arguments that an ex-employee didn't have standing to bring an ERISA suit challenging an investment she didn't sink money into.
June 01, 2020
A New York federal magistrate judge recommended Monday that a suit accusing Verizon of wrongly keeping an underperforming investment in its 401(k) plan proceed as a class action, finding the former employee leading the suit was an adequate class representative, "if modestly so."