Equities

Reuters ahead with news General Electric wins partial dismissal of shareholder lawsuit

Reuters ahead with news General Electric wins partial dismissal of shareholder lawsuit

Reuters was ahead in reporting that General Electric won partial dismissal of a major shareholder lawsuit, sending its shares higher. The federal judge’s decision on six shareholder complaints dating from 2017 and alleging accounting fraud came as GE’s stock had fallen and the company was under scrutiny following critical reports by Madoff whistleblower Harry Markopolos and Fitch Ratings that said GE was at high risk for having a multibillion-dollar shortfall in cash set aside to pay insurance claims.