Accounting

GE Must Face Shareholder Lawsuit Over Accounting, Disclosures; Judge Urges Settlement

NEW YORK (Reuters) – General Electric failed to persuade a Manhattan federal judge to dismiss a long-running shareholder lawsuit accusing it of concealing risks at its power business, and the judge on Thursday urged both sides to settle.

U.S. District Judge Jesse Furman said shareholders could pursue much of their remaining six-year-old class action regarding Boston-based GE’s reliance on factoring in connection with long-term service agreements at GE Power.