Daily News: April 19, 2012

Reuters: Judge Dismisses Claims Against Banks in GE Lawsuit


Reuters reported that a federal judge dismissed claims against Goldman Sachs, JPMorgan Chase and 40 other defendants that they helped mislead investors in General Electric’s $12.2 billion stock offering in 2008.

U.S. District Judge Denise Cote’s ruling does not entirely dismiss the class action lawsuit filed by GE investors, keeping intact claims that GE and its chief financial officer, Keith Sherin, made misleading statements about the quality of the company’s loan portfolio, Reuters said.

To read the full Reuters article, click here.