GE Says It Isn't Liable For Baker Hughes Stock Suit Claims

Law360 (July 16, 2020, 8:34 PM EDT) -- General Electric Co. urged the Delaware chancellor Thursday to toss a proposed securities class action claiming it used deceptive financial statements to induce Baker Hughes Inc. into a merger, saying investors failed to show GE has liability for decisions made by the Baker Hughes board.

During oral arguments via telephone in front of Chancellor Andre G. Bouchard, GE argued that the Chancery Court complaint should be tossed because of various pleading deficiencies, including a failure to show GE can even be held responsible for aiding and abetting breach of fiduciary duty claims asserted in the suit.

GE's attorney Paula H. Anderson...

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