Verizon may be facing SCOTUS over benefits [telecom]

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Verizon participants petition SCOTUS on right to sue over de-risking deal

BY NICK THORNTON

The Supreme Court is being petitioned to review a claim that could clarify when participants in defined benefit pension plans have a right to sue sponsors under the Employee Retirement Income Security Act.

The case, Pundt v. Verizon, derives from the landmark case, Lee v. Verizon, which challenged the $8.4 billion pension buyout contract the telecommunications giant purchased from Prudential in 2012.