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Court Allows Comcast Company Stock Suit to Move Forward
planadviser; registration may be required 
Nov. 3, 2008
Excerpt: The U.S. District Court for the Eastern District of Pennsylvania has moved forward several fiduciary breach claims against Comcast Corporation for its handling of company stock retirement plan investments. The court rejected Comcast's assertion that a previous ruling in a case against Avaya Inc. extended protection for fiduciaries who decided to offer Comcast stock as an investment option because the plan is an eligible individual account plan (EIAP). In its opinion, the court pointed out that the Avaya plan mandated that company stock be offered as an investment option ..., entitling Avaya fiduciaries to a presumption that it was prudent to offer company stock, whereas the Comcast plan only said company stock 'may' be offered to participants.
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