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...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.