Learn How This Class Action Affects Your Rights and Get Answers to Your Questions About the Class Action
In re GE ERISA LITIGATION
If you were a participant in the General Electric 401(k) Plan, a/k/a the GE Retirement Savings Plan, and its predecessor the GE Savings and Security Program (together the “Plan”) who was invested in one or more of the GE Funds (as defined below) at any time since September 26, 2011, you are a member of a certified class, and your legal rights may be affected by a class action lawsuit.More Information
Important Court Ordered Notice
NOTICE OF CLASS ACTION AGAINST GENERAL ELECTRIC AND RELATED PARTIES
If you were a participant in the General Electric 401(k) Plan, a/k/a the GE Retirement Savings Plan, and its predecessor the GE Savings and Security Program (together the “Plan”) who was invested in one or more of the GE Funds (as defined below) at any time since September 26, 2011, you are a member of a certified class.
A federal court authorized this Notice. It is not a solicitation from a lawyer.
You are not being sued. However, your legal rights may be affected by the class action lawsuit discussed in this Notice. Please read this notice carefully.
- A class action lawsuit is pending in the United States District Court for the District of Massachusetts (“the Court”) against General Electric Company (“GE”), GE Asset Management, the Benefit Plan Investment Committee, the Fund Trustees, and unknown “Doe Defendants” (“Defendants” or “GE”). The lawsuit alleges that Defendants breached their fiduciary duties and engaged in prohibited transactions under the Employee Retirement Income Security Act of 1974, as amended, 29 U.S.C. §1001, et seq. (ERISA). Defendants deny any wrongdoing, and assert that the Plan has always been managed appropriately and in the interests of the Class.
- The Court decided that this lawsuit should proceed as a class action on behalf of a “Class” that could include you. The Class consists of any participant in the Plan who was invested through the Plan in one or more of the GE Funds (as defined below) at any time since September 26, 2011 (“Class”). The “GE Funds” are:
- GE Institutional Strategic Investment Fund, a/k/a SSGA Strategic Fund;
- GE Institutional Small Cap Equity Fund, a/k/a SSGA Small Cap Equity Fund;
- GE Institutional International Equity Fund, a/k/a SSGA International Fund;
- GE RSP Income Fund; and
- GE RSP U.S. Equity Fund
- You do not need to take any action at this time. There has not been a recovery on behalf of the Class. This Notice is only to inform you that you may be part of the Class. The Court certified the Class under 23(b)(1) of the Federal Rules of Civil Procedure, a “mandatory” class action under which class members cannot “opt out,” that is, exclude themselves as members of the class.
- As a Class Member, you may share in any future recovery resulting from a favorable judgement or by settlement of this Class Action, but you will give up your rights to sue the Defendants in a separate lawsuit for the claims made, or which could have been made in this Class Action. If Plaintiffs and GE reach a settlement in the future, that settlement must be approved by the Court. Before the court acts on any proposed settlement, you and other Class members will be given notice of the terms of the settlement and will have the opportunity to comment on or object to the settlement.