Judge Recommends Class Treatment For Verizon ERISA Suit

Law360 (June 1, 2020, 9:35 PM EDT) -- 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."

In his report and recommendations, U.S. Magistrate Judge Robert W. Lehrburger rejected Verizon Communications Inc.'s assertion that Melina N. Jacobs didn't know enough about the Employee Retirement Income Security Act suit to act as a representative for the class.

The judge acknowledged there was "some grist in the record" for Verizon's arguments, noting that Jacobs, among other things, didn't recognize...

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