Court’s Decision About State Street’s Handling of GM Stock Stands

McDermott successfully argued to the US Supreme Court that the Sixth Circuit’s dismissal of a lawsuit against an investment management firm over a company 401(k) plan should stand. The Court denied a petition to rehear the case, which reflected McDermott’s position that the circuit court correctly applied the high court’s decision in Fifth Third and there has been no circuit split regarding the application of the decision. Read the full article.