January 15, 2016
The Sixth Circuit on Thursday refused to grant a rehearing on its split decision releasing State Street Bank from claims it knew better than to keep holding General Motors stock in worker pensions while bankruptcy was looming, telling a class of GM workers the issue was already fully considered.
November 25, 2015
General Motors Corp. employees urged the Sixth Circuit on Tuesday to reconsider its split decision releasing State Street Bank & Trust Co. from class allegations that it imprudently held GM stock in their pension plans even as the carmaker's bankruptcy appeared imminent, saying the decision improperly grants immunity to fiduciaries.
November 10, 2015
The Sixth Circuit refused Tuesday to revive a class action brought by General Motors Corp. employees accusing State Street Bank & Trust Co. of imprudently holding onto GM stock in their pension plans even as the carmaker's bankruptcy appeared imminent, ruling they didn't show why the company shouldn't have relied on market pricing.