GE Settles Shareholder Lawsuit For $40 Million

Posted on May 08, 2013

General Electric Co agreed to pay $40 million to settle a shareholder lawsuit accusing the company of misleading investors about its health during the 2008 financial crisis.

Shareholders accused GE of inflating the value of assets at its GE Capital unit, overstating the quality of its holdings in subprime and other risky loans, and maintaining inadequate reserves.