Thread regarding General Electric Co. layoffs

401K Class Action Against GE (Retirement Savings Plan)

Anyone else receive a Class Action Notice against GE in the mail this week? This one is for employees who were invested in certain GE 401K savings and securities since 2011. If true, what a joke this organization has become. Glad I never looked back at this train company while 2 Jets Jeff was still at the helm.

You KNOW if there is a ruling in favor the lawyers will receive 98.999% of the payout anyways, leaving 401k bag holders (class members) with about a .39 CENT settlement. Sounds like a great scam of deal to me! Don't get screwed once, but twice for the price of your retirement!

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| 4811 views | | 9 replies (last June 30, 2021) | Reply
Post ID: @OP+151Uo7OP

9 replies (most recent on top)

At the end of July 2021, GE is doing a reverse stock split 8 for 1. Since the GE 401k litigation discovery phase is ongoing, will the reverse stock split have an impact? It seems like a convenient time for GE to be doing this.

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Post ID: @6Axdc+151Uo7OP

In Aug. 2014, I received a call from a Fidelity Investments representative wanting me to transfer all funds out of my GE RSP to my traditional IRA account I held at Fidelity; and coincidentally within 2 weeks of the GE Bank to Synchrony Bank spinoff. Fidelity has been custodian of GE RSP since the mortgage crisis meltdown and fallout in 2008/09. In retrospect, they were trying to free up stock assets to trade to Synchrony Financial at a higher price, where I lost what GE gained as a result. Did anyone else have this experience?

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Post ID: @1Mvjn+151Uo7OP

Wait until the lawsuits start dropping for the pension. You know, from all those people laughing because they think there's all this money waiting for them at the end of the rainbow 20 plus years from now. Trust me, don't worry about it just keep clocking that OT and spend it like crazy! There's nothing to worry about! GE guarantees it!! Go back to sleep.

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Post ID: @1sut+151Uo7OP

Got letter the other day but this lawsuit has been around a long time. They must be getting ready to settle. This clawback didn't get to many people upset a few years ago when company was doing good. But it just shows how corrupt two jet and his cronies were. Another class action is out their by stock holders for misrepresenting how GE was doing financially. You do remember two jet saying 2.06 EPS just couple months before flanman took over and said 1.00.

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Post ID: @1wcw+151Uo7OP

Got mine today.

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Post ID: @gyv+151Uo7OP

I received one also. GE is guilty as charged. But what should we have expected from our leadership clowns?

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Post ID: @mre+151Uo7OP

This is horrible timing for the lawyers are sitting around getting fed off the backs of the many laborers whom got taken now twice this is such an injustice to the blue collar workers. Typical American Greed at its core . Thanks for your help!!

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Post ID: @yrk+151Uo7OP

Note a joke. I did receive it and going to follow it up.

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Post ID: @zko+151Uo7OP

https://ge401klitigation.com/

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Post ID: @qib+151Uo7OP

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