Shareholders sue GE over SEC investigation, insurance charges

Updated: Fri, Feb 16, 2018
10:20 pm
Reuters
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Shareholders filed a proposed class-action lawsuit against General Electric Co 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.

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