Prohibited Transaction Claim Related To Offering Of Funds Barred By Limitations Statute

Mealey's (December 19, 2018, 1:31 PM EST) -- BOSTON — A Massachusetts federal judge on Dec. 14 dismissed one of two prohibited transactions claims against 401(k) plan defendants after determining that the claim related to the  offering of the plan’s mutual funds is barred by the applicable three-year statute of limitations because the plaintiffs had actual knowledge of the alleged prohibited transaction on the day that they elected their plan options (In re:  G.E. ERISA Litigation, No. 17-12123, D. Mass., 2018 U.S. Dist. LEXIS 211106)....