What are some ethical issues involved in lawsuits against General Electric (GE)?
General Electric has been involved in numerous lawsuits throughout its tenure as one of the largest energy companies in the world. Two of the recent ones involve defrauding shareholders through withholding information after changing the pension plan, and asbestos exposure from a group of wind turbine workers. These have a number of ethical issues that should be examined and used as a warning for other companies.
The fraud lawsuit has the obvious ethical dilemma of not telling people that their retirement income will be diminished. Additionally, it artificially bolstered their financial statements to encourage people to invest with them, when in reality their income was not as substantial as claimed. The asbestos lawsuit has the ethical issue of the company having failed to properly dispose of asbestos (which has been banned as an insulation substance for some time), or having failed to protect people from significant exposure. This is highly dangerous, and numerous employees could be diagnosed with cancer as a result.
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