April 30, 2013
General Electric Co., its CEO Jeffrey Immelt and Chief Financial Officer Keith Sherin have agreed to pay $40 million to settle a class action alleging the iconic appliance company lied to investors about its financial health during the 2008 financial crisis, the lead plaintiff said Monday.
April 23, 2012
A New York federal judge invoked a little-used U.S. Securities and Exchange Commission rule Wednesday to dismiss a host of bank underwriters from litigation over alleged misstatements in a 2008 General Electric Co. secondary securities offering, potentially creating more obstacles for such class actions in the future.