⁍ A Delaware court on Tuesday threw out most of the claims brought by Baker Hughes Co shareholders claiming they were not given complete financial information about the oilfield service provider’s 2017 merger with General Electric’s oil and gas segment.
⁍ In a 55-page decision, Chancellor Andre Bouchard of the Delaware Court of Chancery dismissed claims against GE, former Baker Hughes CEO Martin Craighead and the company’s former CFO, Kimberly Ross.
⁍ He did, however, allow a claim that Craighead breached ‘disclosure duties’ to stand.
– A judge in Delaware has thrown out most of a lawsuit brought by shareholders of Baker Hughes who claimed they were misled about the company’s 2017 merger with General Electric, the AP reports. In a 55-page decision, Chancellor Andre Bouchard of the Delaware Court of Chancery dismissed most of the claims against GE, former Baker Hughes CEO Martin Craighead, and the company’s former CFO, Kimberly Ross, accusing them of misleading shareholders about the $23 billion merger. He did, however, allow a claim that Craighead breached ‘disclosure duties’ to stand.
Source: https://www.reuters.com/article/ma-baker-hughes/delaware-court-axes-baker-hughes-shareholder-claims-over-ge-merger-idUSL1N2HJ028