Berman Tabacco

General Electric Co.

In re General Electric Co. Securities Litigation, No. 1:09-cv-01951 (S.D.N.Y.)

As sole lead counsel representing the State Universities Retirement System of Illinois, Berman Tabacco negotiated a $40 million settlement. The case alleged that General Electric (“GE”) concealed from investors substantial credit risks in its financial services unit, GE Capital. For example, the action alleged that GE failed to disclose that GE Capital held hundreds of billions of dollars in subprime and non-investment grade debt, which had threatened the company’s financial position and its ability to pay its promised quarterly dividend.

Case Information

  • Settlement Amount:
    $40,000,000