By Danielle Nichole Smith (December 17, 2018, 4:32 PM EST) -- A Massachusetts federal judge cut one claim from a proposed class action alleging that General Electric Co. wrongly invested its retirement plan participants' savings in subpar affiliated funds, but allowed the rest of the Employee Retirement Income Security Act suit to go forward.
In her order Friday, U.S. District Judge Indira Talwani denied GE's bid to dismiss allegations that the company offered certain proprietary funds even though they were expensive and performed poorly, in order to amass fees for a subsidiary and inflate the subsidiary's value before it was sold. However, the judge granted GE's request to toss allegations that it...
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