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A federal court has granted final approval for a $61 million cash settlement by General Electric Co. in a lawsuit alleging a GE retirement plan improperly offered proprietary funds, 401K Specialist reports. The lawsuit, filed by Sanford Heisler Sharp in 2017, alleged that GE's retirement plan, managed by GEAM, underperformed comparable funds and that defendants breached their duties of loyalty and prudence under the employee Retirement Income Security Act by refusing to consider better-performing funds.
1. UnitedHealth reports significant data breach; personal health info compromised
2. Illinois House passes governor’s 'Healthcare Protection Act’
3. UnitedHealth faces scrutiny over size, operations, and cyberattack
4. Walmart to shut down health clinics due to unprofitability
5. Analyst says Cigna, Humana share prices could put merger back on the table
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