StocksMedium•30 September 2026•
1 min read
Judge Dismisses AT&T from $8.05 Billion Pension Risk Lawsuit; State Street Claims Proceed
Key Facts
1A federal judge dismissed claims against AT&T in a class action lawsuit regarding an $8.05 billion pension risk transfer.
2The judge allowed claims to proceed against State Street Corp., the fiduciary adviser responsible for selecting the annuity provider.
A federal judge dismissed claims against AT&T in a class action lawsuit regarding an $8.05 billion pension risk transfer. Chief Investment Officer reported that the judge allowed claims to proceed against State Street Corp., the fiduciary adviser responsible for selecting the annuity provider, after finding that AT&T was not directly involved in the selection process delegated to State Street.
T closed at $24.48 on September 29, 2026, while STT closed at $177.78 on the same date. The ruling shifts the focus of the $8 billion litigation entirely toward State Street's role as the fiduciary lead in the transfer of pension liabilities, effectively removing AT&T from direct legal liability in the ongoing case.