State street bank was an independent fiduciary of GM employees in their 401ks, in 2006 they were HIRED BY GM to evaluate the GM common stock fund in their 401ks.....
- In sept. of 2008 State street and GM capped the fund and said it was FULL......and in april of 2009 the employees that were still in the fund were exchanged out of the fund and notified AFTER the exchange took place... There was never an SEC filling that was made available to the public/employees until the exchange was done....!
-Why did they wait until it was 1.87 a share to exchange them out....?
- State Street Bank still had 103.5 million shares of GM common stock shares after the exchange took place... isn't that conflict of interest....?
- They also were bond holders...... isn't that conflict of interest?