A federal judge denied a motion by General Motors Corp. to dismiss a lawsuit that claims company officials who oversee employees' retirement funds failed to act responsibly, attorneys for the plaintiffs said Friday. The suit, filed in U.S. District Court for Michigan, claims that GM and the managers of its two retirement funds ignored the company's financial woes, causing employee investors to suffer huge losses.
April 10, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
A federal judge denied a motion by General Motors Corp. to dismiss a lawsuit that claims company officials who oversee employees’ retirement funds failed to act responsibly, attorneys for the plaintiffs said Friday.
The suit, filed in U.S. District Court for Michigan, claims that GM and the managers of its two retirement funds ignored the company’s financial woes, causing employee investors to suffer huge losses.
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