Second Circuit Affirms Dismissal Of ERISA Claims Challenging The Inclusion Of Company Stock In 401(k) Plan
By EsqSocial Corporation 08/02/21
The U.S. Court of Appeals for the Second Circuit on Thursday, February 4, affirmed the dismissal of an ERISA class-action lawsuit filed against General Electric Company and its former CEO. 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...
By: Goodwin