Atty Says GE Projections 'Classic Case' Of Stock Inflation

Law360, New York (September 1, 2011, 3:58 PM EDT) -- An attorney told the Second Circuit on Thursday that an investor class action against General Electric Co. was a “classic case” of a company failing to publicly disclose financial information, causing its stock price to fall when the truth was revealed.

When GE CEO Jeffrey Immelt said in 2008 that the company was on track to meet its financial goals, he was speaking not just about the company's year-end results but its results for each individual quarter as well, said Susan K. Alexander of Robbins Geller...
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