GE, Baker Hughes Execs Push to Toss Suit on Merger Misconduct

Attorneys for General Electric and former Baker Hughes Inc. executives urged Delaware’s Court of Chancery to dismiss a class action complaint from an institutional investor who said GE used inflated financial projections to trick the oilfield services giant into the 2017 merger.

“What we have is only bold, unsubstantiated assertions,” GE’s attorney, Paula Howell Anderson of Shearman & Sterling, said during a Thursday hearing on the company’s motion to dismiss the case brought by Tri-State Joint Fund, an institutional investor.

The Tri-State suit alleges that two of Baker Hughes’ former executives, the company’s then-CEO Martin Craighead and then-CFO Kimberly Ross, ...