Judge Consolidates 4 Lead Cable Shareholder Class Actions vs. Verizon

U.S. District Judge Robert Kirsch for New Jersey ordered the consolidation of four shareholder derivative class actions against current and former Verizon officers and board members for their alleged roles in concealing Verizon's ownership of toxic lead cables from investors, said the judge’s signed order Tuesday. The parties in all four class actions had stipulated to the consolidation (see 2403060003). The derivative class actions “challenge substantially the same alleged conduct by similar Verizon directors and officers, involve substantially the same questions of law and fact, and are based on substantially the same factual allegations,” said the order. The plaintiffs agree that the Rosen Law Firm should be designated as lead counsel in the consolidated class actions, it said. The first-filed complaint by Andrew Jankowski is designated as the lead case (docket 3:23-cv-21123), said the order.