Daily News: January 16, 2012

Reuters: GE Ordered to Defend Lawsuit Tied to 2008 Crisis


Reuters reported that a federal judge refused to dismiss a lawsuit accusing GE and its CEO of misleading investors about the conglomerate’s financial health and exposure to risky debt during the 2008 financial crisis.

The article said the decision by District Judge Richard Holwell in Manhattan keeps alive litigation seeking to hold the company responsible for investor losses during a six-month period when its stock price fell to about $10 from about $26, causing its market value to tumble by more than $150 billion.

To read the full Reuters article click here.