No Actionable Misstatements Leads To Claims Dismissal In GE Securities Suit

Mealey's (May 12, 2020, 2:11 PM EDT) -- NEW YORK — A retirement system failed to plead any actionable misstatements or omissions or scienter in alleging that General Electric Co. (GE) and certain of its senior executives violated provisions of the federal securities laws by failing to disclose to investors oxidation issues with GE’s new model gas turbines, as well as the extent of a $22 billion goodwill impairment, a federal judge in New York ruled May 7 (In re General Electric Securities Litigation, Nos. 19-1013, S.D. N.Y., 2020 U.S. Dist. LEXIS 81554)....