Verizon Defeats Investor Claims Over ESG Statements, Lead Cables

Verizon Communications Inc. investors failed to sufficiently allege the company misled them about worker and environmental safety in light of its allegedly toxic lead-encased cables, a federal court ruled.

The investors didn’t show actionable, false statements or fraudulent intent, but may re-plead their claims, Judge Edward S. Kiel said Monday for the US District Court for the District of New Jersey. Kiel’s decision coincides with a Western District of Louisiana judgment from the same day in favor of another telecommunications company, Lumen Technologies Inc., over largely the same issues.

• Investors sued Verizon, Lumen, and AT&T Inc. over allegedly ...