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Second Circuit Affirms Dismissal of ERISA Claims Challenging Inclusion of Company Stock in 401(k) Plan
Goodwin ProcterLink to more items from this source
Feb. 8, 2021

"The complaint had alleged the company violated ERISA by offering GE stock as an investment option for its 401(k) plan participants despite purportedly under-reserving for the liabilities of insurance subsidiaries by approximately $15 billion. The court rejected the plaintiff's argument that her allegations satisfied the standard for pleading a breach of the duty of prudence in this context[.]" [Varga v. General Electric Co., No. 20-1144 (2d Cir. Feb. 4, 2021; unpub.)]

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