AT&T Retirees Allowed to Combine Athene Pension Transfer Suits

A Massachusetts federal court consolidated two class actions filed by AT&T Inc. retirees challenging the company’s move to de-risk $8 billion in pension assets with a subsidiary of private equity giant Apollo Global Management.

The “central question at the core” of each lawsuit is the same, and all parties “stand to gain meaningful benefits through consolidation,” Judge Nathaniel M. Gorton of the US District Court for the District of Massachusetts said Nov. 8.

He ordered the combination of Piercy v. AT&T Inc. and Schloss v. AT&T Inc., naming Zuckerman Spaeder LLP and Schlichter Bogard LLP as co-lead counsels. ...