Verizon Agrees to $30 Million Settlement in ERISA Class Action
On July 7, 2023, Plaintiff Melina Jacobs (“Plaintiff”) filed an unopposed motion for preliminary approval of class settlement to resolve claims she brought on behalf of herself, the Verizon Savings Plan for Management Employees (the “Plan”), and other participants of the Plan against Verizon Communication, Inc., (“Verizon”), Verizon Investment Management Corp, the Verizon Employee Benefits Committee, and Marc C. Reed, Matha Delehanty, Andrew H. Nebens, Connia Nelson, Shane Sanders, Robert J. Barish, and Donna C. Chiffriller (collectively “Defendants”). The parties agreed to settle the claims for $30 million.
