GE Won't Fight Massive Class Cert. Bid In Retirement Suit
By Emily Brill (December 16, 2019, 10:34 PM EST) -- General Electric Co. is not opposing a request for a Massachusetts federal judge to certify a class of hundreds of thousands of GE workers and retirees in their lawsuit accusing the company of improperly investing employees' retirement savings in subpar company-affiliated funds.
The proposed class asked U.S. District Judge Indira Talwani on Friday to certify the class, which consists of anyone who has joined the GE Retirement Savings Plan since Sept. 26, 2011, who had money stored in at least one GE-affiliated investment fund.
The unopposed motion for class certification puts forward 10 proposed class representatives, telling Judge Talwani they are...
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