In re General Motors ERISA Litigation
In May 2005, a class action suit named GM as a defendant, alleging “that the GM defendants breached their fiduciary duties to plan participants by, among other things, investing their assets, or offering them the option of investing, in GM stock on the ground that it was not a prudent investment.” In January 2008, the parties filed a motion for preliminary approval of a proposed settlement. If approved, the settlement will provide a cash fund of $37.5 million.
- Misconduct Type
- Enforcement Agency
- Contracting Party
- Court Type
- Date of Settlement Announcement
|General Motors Corp.||$37,500,000|