Class Certified In ERISA Suit Accusing Verizon Of Failing To Monitor Option

Mealey's (October 12, 2020, 1:27 PM EDT) -- NEW YORK — A federal judge in New York on Sept. 29 certified a class of participants in and beneficiaries of an individual account defined-contribution plan for Verizon Communications Inc. management employees who allege breach of fiduciary duty for failure to properly monitor and take action regarding a poorly performing investment option (Melina N. Jacobs, et al. v. Verizon Communications, Inc., et al., No. 16-1082, S.D. N.Y., 2020 U.S. Dist. LEXIS 179421)....