Judge Gives Nod to GE, Investors’ $363 Million Class Settlement

General Electric Co. and investors’ $362.5 million settlement of securities fraud claims over an operating cash shortfall in its power unit got a federal judge’s preliminary approval.

Judge Jesse M. Furman disagreed with intervenors’ ask that he not grant preliminary approval on the grounds the proposed settlement doesn’t treat class members equitably and offers inadequate relief. Intervenors also asked for a second opt-out period, which he denied in the US District Court for the Southern District of New York on Tuesday.

• The consolidated securities class action alleged GE didn’t share that its power division was buoying cash levels by ...