What are six allegations against General Electric (GE)?
A company the size of General Electric typically runs into lawsuits from time to time. Currently, there are several high level lawsuits against them, for a variety of different unethical actions.
First, there is the shareholder fraud lawsuit that alleges the company adjusted the pension disbursement equations to give their employees and pensioners less money without disclosing it, therefore lying to shareholders about how much money they were actually making. Beyond that, there is a lawsuit alleging that they did not properly dispose of asbestos and therefore endangered lives. There are multiple groups suing the company over the sale of subprime mortgages.
An additional claim alleges that there are numerous other violations of SEC rules, including lying about keeping a “spare jet” around to allow private off-the-book flights for the CEO. Additionally, another suit claims that GE has lied about the extent of its offshore wind turbine research—particularly while trying to acquire a wind turbine company. Finally, there is an additional lawsuit claiming that GE was using suboptimal and expensive 401K index funds intentionally, preventing its employees from earning large sums of money.
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