SuperMedia Inc. (SPMD)

[Jersey Devil]

Retirees' Pension Lawsuit Against Verizon & SuperMedia Certified as Class Action

Senior Federal Judge A. Joe Fish of the Northern District of Texas, Dallas Division, issued an order granting class certification for participants in Verizon's (NYSE: VZ) pension plans who were involuntarily transferred to Idearc's pension plans in November 2006. Idearc was a Verizon spin-off that filed for Chapter 11 bankruptcy in 2009 and has since emerged from bankruptcy as SuperMedia Inc. (NASDAQ: SMPD).
The February 28 order defines the class to include all former participants in Verizon's pension plans who were transferred into Idearc's pension plans in connection with a spin-off transaction that occurred in November, 2006 and who were retired or terminated from Verizon at the time of the spin-off. Also included in the class are the beneficiaries of such participants. The class is represented by Denver lawyer Curtis L. Kennedy and Dallas lawyer Robert Goodman, Jr.