GE Class Suit’s Opt-Outs Lose Appeal to Revive Securities Claims

Two trusts and four insurance companies that held General Electric Co. stock can’t maintain their suit over the conglomerate’s financial reporting, the Second Circuit ruled Monday.

The firms didn’t adequately allege GE’s intent in the complaint they filed after opting to pursue individual securities claims rather than participate in a class action, the appeals court said in an unsigned, unpublished opinion affirming the lower court’s dismissal.

• The investors said they lost money due to a stock decline in which GE lost about half its value over the course of 2017 and 2018
• The company and some of its officers allegedly ...