GM Remains in ERISA Suit, Pension Fund Tossed

Law360, New York (August 29, 2007, 12:00 AM EDT) -- A judge has found that pension fund General Motors Investment Management Corp. lacked sufficient discretion over the two pension plans whose alleged mismanagement is the subject of a class action by GM employees and tossed the pension fund from the suit.

On Tuesday, Judge Nancy G. Edmunds, in the U.S. District Court for the Eastern District of Michigan, granted in part and denied in part defendants' Aug. 24, 2006, motion to dismiss the plaintiffs' amended complaint. She granted the motion as it regarded GMIMCo and otherwise...
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