Gannett Defeats 401(k) Claims Over Failure to Divest TEGNA Stock

On December 5, 2023, a Virginia federal judge entered judgment in favor of Gannett following a bench trial that concluded more than five years of ERISA litigation. The lawsuit was brought by two participants in the Gannett Co., Inc. 401(k) Savings Plan, on behalf of themselves and a class of plan participants, against Gannett Co., Inc., the plan’s committee, and the committee’s individual members.