在2024年3月就與保德信和RGA(RGA.US)再保公司交易而為Verizon提供諮詢服務的道富銀行(State Street)亦被列為訴訟中的被告。Telecommunications company Verizon Communications (VZ.US) has been sued by retirees, accusing the company of trying to offload plans to Insurance companies, including a subsidiary of Prudential Financial (PRU.US), thereby jeopardizing employees' retirement funds.
According to a complaint filed recently in the U.S. District Court for the Southern District of New York, Verizon failed to fulfill its fiduciary duties to retirees and did not carry out the Trade with the Insurance company. The lawsuit claims that the opaque transactions with the subsidiary put the financial security of pension recipients at risk.
The lawsuit states that the Trade affects the pensions of 0.056 million Verizon retirees and involves $5.7 billion in Assets.
State Street, which provided Consulting Services to Verizon regarding the Trade with Prudential Financial and RGA (RGA.US) reinsurance company in March 2024, is also named as a defendant in the lawsuit.
