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General Electric Calls On Court To Toss Retirement Suit

Law360 (August 9, 2018, 6:02 PM EDT) -- General Electric Co. has urged a Massachusetts federal judge to drop a proposed Employee Retirement Income Security Act class action accusing the company of funneling workers' retirement savings into subpar company-managed investment funds, claiming Wednesday that the suit does not prove the funds were a bad decision for the retirement plan.

The company accused the proposed class — a group of roughly 240,000 participants in GE’s 401(k) plan — of cherry-picking data to portray the funds as shoddy, even though one fund’s performance was “excellent” and...
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