GE Shareholder Suit Thrown Out

Law360, New York (July 16, 2010, 4:11 PM EDT) -- A federal judge has dismissed a proposed class action shareholder suit against General Electric Co., ruling that the suit failed to allege that the conglomerate made actionable misstatements or omissions before its stock price began to drop in 2008.

Judge Stefan R. Underhill of the U.S. District Court for the District of Connecticut on Thursday granted GE's motion to dismiss the suit, which sought to represent anyone who purchased the company's shares between March 12 and April 10, 2008.

Investor Thomas Coyne filed the suit, which...
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