A federal appeals court on Wednesday rejected a lawsuit by more than 100 retired General Motors executives over cuts to their retirement benefits.

As a condition of the U.S. Treasury’s $49.5 billion GM bailout in 2009, the bankrupt automaker was required to cut, by two-thirds, executive pensions that exceeded $100,000 a year.

The retired executives who sued include a number of former GM vice presidents, including John G. Middlebrook, who was vice president and general manager of vehicle brand marketing. He also was a general manager of the Chevrolet Division and helped launch GM’s now-shuttered Saturn division.

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Court Tells GM Executives Tough Luck On Pension Cuts

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