On April 25, 2019, the Honorable Denise Cote of the United States District Court for the Southern District of New York appointed Cohen Milstein Lead Counsel in In Re General Electric Securities Litigation, No. 19 cv 1013 (DLC), a putative securities class action. Cohen Milstein’s client, Teachers’ Retirement System of Oklahoma, was appointed Lead Plaintiff.
The case involves General Electric’s omission and misstatement of material information related to its November 2015 acquisition of Alstom Energy and the benefits of that acquisition to General Electric and its shareholders, as well as omissions and misstatements of material information regarding the quality and performance of its gas turbines. General Electric is currently under investigation by both the Securities Exchange Commission and the U.S. Department of Justice for potential accounting irregularities related to an October 2018 $23.2 billion goodwill impairment charge related to GE’s Power business.