GE $363 Million Investor Class Settlement Gets Final Court Nod

General Electric Co.‘s $362.5 million settlement with investors over securities fraud claims related to an operating cash shortfall in its power unit garnered final court approval.

Judge Jesse M. Furman awarded class counsel almost 20% of the settlement fund in attorneys’ fees—nearly $70 million—and close to $9.6 million in litigation expenses, plus interest, on Thursday. The US District Court for the Southern District of New York judge approved reimbursements to class representative Sjunde AP-Fonden for nearly $23,000 and class representative The Cleveland Bakers and Teamsters Pension Fund for almost $13,000.

• Investors alleged GE didn’t share that its power ...