GM Settles On $37.5M To End ERISA Suit

Law360, New York (January 16, 2008, 12:00 AM EST) -- Details on a settlement deal made by General Motors Corp. emerged in court documents filed Tuesday, with GM agreeing to pay $37.5 million to put to rest allegations that it had improperly invested the pension funds of its employees and retirees in its own stock.

Reports of a settlement have been swirling around the automaker for the past week, with the Detroit News initially reporting that General Motors had agreed to pay some $39 million to settle the suit's claims, citing unnamed sources familiar with the...
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