High Court Won't Hear State Street Appeal Of GM ERISA Suit

Law360, New York (December 3, 2012, 2:53 PM EST) -- The U.S. Supreme Court on Monday refused to hear State Street Bank & Trust Co.'s appeal of a Sixth Circuit decision that revived a putative class action accusing the bank of mismanaging General Motors Co. employees' retirement plans.

The high court denied State Street's petition for certiorari, which maintained that the Sixth Circuit's decision reversing the dismissal of a lawsuit alleging the bank had breached its fiduciary duty under the Employee Retirement Income Security Act by continuing to allow retirement plan participants to invest in GM...
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