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Joseph Jett worked for Kidder, Peabody & Co.




Joseph Jett worked for Kidder, Peabody & Co., a financial services firm owned by General Electric Co. (GE). Over a three-year period, Jett allegedly engaged in a scheme to generate false profits at Kidder, Peabody & Co. to increase his performance-based bonuses. When the scheme was discovered, Daniel Chill and other GE shareholders who had bought stock in the previous year filed suit in a federal district court against GE. The shareholders alleged that GE had engaged in securities fraud in violation of Section 10(b). They claimed that GE?s interest in justifying its investment in Kidder, Peabody & Co. gave GE ?a motive to willfully blind itself to facts casting doubt on Kidder?s purported profitability.? On what basis might the court dismiss the shareholders? complaint? Discuss fully, and cite to support your response. See


Paper#34065 | Written in 18-Jul-2015

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