A federal judge in Manhattan on Thursday partially dismissed a lawsuit by invest...
NEW YORK - A federal judge in Manhattan on Thursday partially dismissed a lawsuit by investors in General Electric Co that accused the company of concealing $24 billion in insurance liabilities and using fraudulent accounting to prop up its power business.
Judge Jesse Furman, however, granted the shareholders permission to amend their complaint. The class-action lawsuit, originally filed in November 2017, consolidates six cases that sought to hold GE and its senior leaders accountable for falling profits in recent years. “Plaintiffs may be able to allege additional facts regarding the individual defendants’ knowledge, or conscious disregard of, GE’s actuarial issues and the trends and risks it should have disclosed that would permit plaintiffs to clear the scienter bar,” Furman wrote in his ruling, referring to the legal term for knowledge of wrongdoing.
The suit alleges that starting in early 2013, Immelt and other top GE executives repeatedly misled investors by saying GE had sold its insurance business even though GE remained liable for money-losing long-term care policies.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Woman cleared of murder after 35 years in prison gets $3MA woman who spent 35 years in prison for a Nevada murder she didn't commit before she was exonerated by DNA evidence on a crime-scene cigarette butt will get $3 million in a partial settlement of a federal civil rights lawsuit.
Lire la suite »
Woman cleared of murder after 35 years in prison gets $3 millionCathy Woods, 68, will continue to seek damages from former detectives she accuses of coercing a fabricated confession from her while she was a patient in a mental hospital.
Lire la suite »
School Funded by Bill Gates Slapped with Another Bullying LawsuitA school funded by Bill Gates just got its second lawsuit following new bullying claims.
Lire la suite »
Justice Department sues Baltimore County for discriminating against black applicantsFederal lawsuit claims Baltimore County's use of the written exams led to hiring fewer black people as entry-level police officers and police cadets than it would have had it used a 'non-discriminatory screening device.'
Lire la suite »
José Andrés Admits to Underpaying Staffers at Mercado Little SpainChef José Andrés has landed in hot water for underpaying staffers at his critically-acclaimed Hudson Yards venture Mercado Little Spain
Lire la suite »