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Supreme Court Allows GM Workers' Pension Claim Against State Street Bank
Insurance Journal
Dec. 4, 2012 "Without comment, the court refused ... to review the case and let stand a February ruling from a lower court that allowed the workers to sue State Street Bank and Trust Co. The 2009 lawsuit said the bank should have acted faster to sell a 401(k) investment fund's shares in GM stock after the automaker's business troubles came to light.... State Street said ERISA had shielded it from liability since it did not cause the losses and the employees themselves had decided to invest in the GM fund." MORE >> |
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