Court approves settlement in GM class action
The Superior Court of Justice has approved the GM class action settlement.
In May 2010 a class action was commenced against General Motors of Canada Limited (“GMCL”) on behalf of former salaried and executive employees who retired between January 1, 1995 and October 20, 2011. The class action concerned reductions that GMCL made to the retirement benefits of Class Members.
The parties reached an agreement to settle the class action several weeks ago. The proposed settlement has now been approved by the Superior Court of Justice as being fair, reasonable and in the best interests of the class.
Please click here for more information and to read the Court’s orders and the Notice of Settlement Approval, which describes the settlement in detail, including who it applies to, the details of the settlement and the process by which Class Members will be compensated.