The Law Firm of Berman DeValerio Announces a Proposed Class Action Settlement Involving General Electric Company Common Stock

BOSTON, June 27, 2013 /PRNewswire/ --

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

SUMMARY NOTICE OF CLASS ACTION, PROPOSED SETTLEMENT, MOTION FOR ATTORNEYS' FEES, AND SETTLEMENT HEARING

TO:        All Persons that during the period from September 25, 2008 through March 19, 2009, inclusive (the "Class Period"), purchased or otherwise acquired the common stock of General Electric Company (the "Settlement Class").

PLEASE READ THIS NOTICE CAREFULLY.  YOUR RIGHTS MAY BE AFFECTED BY THE PROPOSED SETTLEMENT OF A CLASS ACTION LAWSUIT PENDING IN THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK (THE "COURT").

PLEASE DO NOT CONTACT THE COURT, GENERAL ELECTRIC, ANY OTHER DEFENDANT, OR THEIR COUNSEL REGARDING THIS NOTICE.

ALL QUESTIONS ABOUT THIS NOTICE, THE PROPOSED SETTLEMENT, OR YOUR ELIGIBILITY TO PARTICIPATE IN THE PROPOSED SETTLEMENT SHOULD BE DIRECTED TO LEAD COUNSEL OR THE CLAIMS ADMINISTRATOR, WHOSE CONTACT INFORMATION IS PROVIDED BELOW.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the Court, that the Settlement Class in the above-captioned litigation (the "Action") has been preliminarily certified for the purposes of the proposed Settlement only.

YOU ARE ALSO NOTIFIED that the State Universities Retirement System of Illinois ("Lead Plaintiff"), on behalf of itself and the proposed Settlement Class, and the Settling Defendants have reached a proposed settlement of the Action for $40,000,000 in cash (the "Settlement Amount"), that, if approved, will resolve all claims in the Action (the "Settlement").

A hearing will be held before the Honorable Denise Cote, United States District Judge for the United States District Court for the Southern District of New York, in the Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, Courtroom 15B, New York, NY 10007-1312 at 2:00 p.m. on August 16, 2013, to, among other things, determine whether (i) the proposed Settlement should be approved by the Court as fair, reasonable, and adequate; (ii) the Action should be dismissed with prejudice against the Settling Defendants, as set forth in the Stipulation and Agreement of Settlement, dated April 29, 2013; (iii) the proposed Plan of Allocation for distribution of the Settlement Amount, and any interest earned thereon, less Court-awarded attorneys' fees, Notice and Administration Expenses, Taxes, and any other costs, fees, or expenses approved by the Court (the "Net Settlement Fund") should be approved as fair and reasonable; and (iv) the application of Lead Counsel for an award of attorneys' fees and reimbursement of litigation expenses should be approved.[1]  The Court may change the date of the hearing without providing another notice.  You do NOT need to attend the Settlement Hearing in order to receive a distribution from the Net Settlement Fund.

IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS, YOUR RIGHTS MAY BE AFFECTED BY THE PROPOSED SETTLEMENT AND YOU MAY BE ENTITLED TO SHARE IN THE NET SETTLEMENT FUND.  If you have not yet received (i) the printed Postcard Notice of Class Action, Proposed Settlement and Motion for Attorneys' Fees and Expenses; (ii) the Second Revised Full Notice of Class Action, Proposed Settlement, Motion for Attorneys' Fees and Settlement Hearing ("Full Notice"); or (iii) the Proof of Claim and Release form ("Proof of Claim"), you can obtain a copy of those documents on the website www.gesecuritieslitigation.com or by contacting the Claims Administrator:

Please refer to the website for more detailed information and to review the Settlement documents.  Inquiries other than requests for information about the status of a claim may also be made to Lead Counsel:

If you are a potential Settlement Class Member, to be eligible to share in the distribution of the Settlement proceeds, you must timely submit a valid Proof of Claim, which can be found on the websites listed above, postmarked no later than October 11, 2013.  If you are a potential Settlement Class Member and do not submit a valid Proof of Claim form, you will not be eligible to share in the distribution of the Net Settlement Fund, but you will nevertheless be bound by any judgments or orders entered by the Court in the Action.

If you are a potential Settlement Class Member, but wish to exclude yourself from the Settlement Class, you must submit a written request for exclusion in accordance with the instructions set forth in the Full Notice, which can also be found on the websites, postmarked no later than July 26, 2013.  If you are a potential Settlement Class Member and do not timely exclude yourself from the Settlement Class, you will be bound by any judgments or orders entered by the Court in the Action.

Any objections to the proposed Settlement, Plan of Allocation, or Lead Counsel's application for attorneys' fees and reimbursement of expenses must be mailed to counsel for the Settling Parties in accordance with the instructions set forth in the Full Notice, postmarked no later than August 2, 2013, and filed with the Court no later than August 2, 2013.

QUESTIONS?  VISIT WWW.GESECURITIESLITIGATION.COM OR CALL 800-391-9724 TOLL FREE

[1] The Full Notice and the Stipulation, available for download at www.gesecuritieslitigation.com, contain additional information concerning the Settlement and the definitions, and further explanation, of many of the defined terms used in this Notice (which are indicated by initial capital letters).

Contact: Kathleen M. Donovan-Maher, Esq. 800-516-9926

SOURCE Berman DeValerio