A federal judge has certified a class action ERISA suit against Comcast in which employees of the cable TV giant claim they suffered losses in the company stock fund because it was heavily invested in Comcast stock during a period when its price was falsely and knowingly inflated by company executives. Nearly identical accusations were lodged in an unsuccessful securities fraud suit by outside investors. Now, the judge from that case has ruled that similar claims by employees are subject to a less exacting standard.
Federal Judge Certifies Class Action ERISA Suit Against Comcast
The Legal Intelligencer
April 19, 2010