Shareholders sue GE over SEC investigation, insurance charges

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NEW YORK (Reuters) – Shareholders filed a proposed class-action lawsuit against General Electric Co (GE.N) on Friday, alleging the industrial conglomerate made misleading statements and failed to disclose information about an accounting investigation and about insurance policies that cost the company billions of dollars. The lawsuit filed by the Cleveland Bakers and Teamsters Pension Fund also names the current and former chief executives and chief financial officers of the company, and says the actions caused GE stock to trade “at artificially-inflated levels” between February 26, 2013 and January 24, 2018. GE had no immediate comment. Reporting by Alwyn Scott and Jonathan Stempel, Editing by Franklin PaulOur Standards:The Thomson Reuters Trust Principles.
Source: Reuters