GE:  Investor Claims Properly Dismissed For Failure To Meet Pleading Elements

Mealey's (February 13, 2023, 8:31 AM EST) -- NEW YORK — A federal district court did not err in dismissing shareholder claims against General Electric Co. (GE) and certain of its former senior executives stemming from misstatements the defendants allegedly made regarding the company’s business and financial condition because the shareholders failed to sufficiently plead an actionable misstatement or omission or scienter as required under the Private Securities Litigation Reform Act (PSLRA), GE and the former executives argue in an appellee brief filed in the Second Circuit U.S. Court of Appeals....