If Successful, Fukushima Class Actions Could Wipe Out General Electric

Fukushima_Building_reactor_3_and_4_damage

General Electric faces two multibillion-dollar class actions from people hurt by the Fukushima nuclear disaster and its aftermath, who say GE and GE-Hitachi failed to properly design and maintain the power plant.
One 2-page summons and notice in New York County Supreme Court demands compensatory damages of at least $3 million per plaintiff, but does not estimate the size of the class.
No one died in the radiation leak set off by a tsunami, but more than 100,000 people were evacuated.
At $3 million apiece, damages would come to $300 billion.
If granted, such an award could wipe out General Electric, which Forbes calls the second-largest company in the world.
GE has 10 billion shares outstanding, and is trading at about $26, giving it a market capitalization of about $260 billion.

courthousenews.com

Nuclear Power: Their Profits, Our Risks from Fairewinds Energy Education on Vimeo.

Advertisements
Published in: on March 14, 2014 at 19:05  Leave a Comment  
Tags: , , , ,

The URI to TrackBack this entry is: https://sooth2012.wordpress.com/2014/03/14/if-successful-fukushima-class-actions-could-wipe-out-general-electric/trackback/

RSS feed for comments on this post.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: