Reidt v. Frontier Communications Corp.

Plaintiffs brought this case against Defendants for improperly discharging their fiduciary duties resulting in a loss of millions of dollars to the 401(k) Savings Plan because Plan assets were imprudently invested in Verizon common stock in breach of the Defendants’ fiduciary duties.

On April 15, 2020, Frontier filed for bankruptcy, resulting in an automatic stay of proceedings. The automatic stay ended on April 30, 2021, when the Bankruptcy Court confirmed Frontier’s Plan of Reorganization and Defendants’ motion to dismiss is currently pending.