T · News · 20260930N
Pension Risk Transfer Litigation
AT&T INC. · 2026-09-30 · Importance 71 · Surprise 60 · In source text
A federal judge dismissed claims against AT&T in a proposed class action involving the company’s $8.05 billion pension risk transfer transaction. The court ruled that AT&T was not directly responsible for selecting the annuity provider. Claims against State Street, the fiduciary adviser delegated the selection responsibility, were allowed to proceed. The ruling reduces AT&T’s direct litigation exposure while leaving related fiduciary claims pending against State Street.
Key facts
- A federal judge dismissed claims against AT&T in a proposed class action lawsuit concerning its $8.05 billion pension risk transfer, ruling that AT&T was not directly involved in selecting the annuity provider. source
- Claims against State Street Corp. related to the same pension risk transfer matter are allowed to proceed after the judge's decision dismissing claims against AT&T. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| liability | positive | realized | — | A federal judge dismissed claims against AT&T in a proposed class action lawsuit concerning its $8.05 billion pension risk transfer,… |