General Electric $362.5M Settlement for Securities Claims

If you purchased or acquired General Electric Company (GE) common stock between February 29, 2016, and January 23, 2018, you may qualify to submit a claim for portion of this class action settlement.

General Electric has agreed to pay $362,500,000 to settle a class action lawsuit for alleged violations of federal securities laws, specifically for making materially false or misleading statements and omissions regarding GE's reliance on intercompany factoring transactions to offset weaknesses in GE Power’s cash flows from operations [1].

Who is eligible for a General Electric settlement payout?

All individuals or entities that purchased or acquired GE common stock between February 29, 2016, and January 23, 2018.

How much is the GE securities payment?

The amount each class member receives will be calculated based on the number of shares purchased or acquired and the timing of thes transactions. The estimated average recovery is approximately $0.05 per eligible share before deductions for fees and expenses [1].

• Tier 1: Shares purchased/acquired during the class period and sold before the first corrective disclosure date of  April 21, 2017.
• Tier 2: Shares purchased/acquired during the class period and sold after the first corrective disclosure date but before the end of the class period which is January 23, 2018 [1].

How to claim a General Electric class action payout

To claim a settlement payment, class members must complete and submit a claim form. This can be done with the online claim form or by downloading the PDF claim form and mailing it to the settlement administrator.

Settlement Administrator's mailing address: General Electric Securities Litigation c/o JND Legal Administration, P.O. Box 91449, Seattle, WA 98111 [1].

Required documentation

Claimants need to provide documentation such as brokerage confirmation slips or account statements to verify any transactions in GE common stock during the class period [1].

GE payment options

• Checks mailed to the address provided
• Direct deposit to the bank account specified in the claim form [1].

$362.5 Million class action settlement fund

The settlement fund of $362.5 million covers

• Settlement notice and administration costs: To be determined
• Attorneys' fees: Up to $90,625,000
• Attorneys' expenses: Up to $10 million
• Payments to approved claimants: The remainder of the Net Settlement Fund [1]

Important dates

• Deadline to File a Claim: June 20, 2025
• Fairness Hearing: April 24, 2025 [1]

When is the General Electric Securities Litigation payout date?

The final hearing is scheduled for April 24, 2025. Once the court grants approval to the settlement, claims will be processed and payments will be issued to class members with valid claims.

Why was there a class action settlement?

The lawsuit alleged that GE made false and misleading statements about its financial health, particularly regarding its reliance on intercompany factoring transactions. The settlement was reached to avoid the expense of further litigation [1].

Sources

1] [Official Settlement Website