A Manhattan federal judge has dismissed an investor class action that targeted General Electric Co. for allegedly concealing a major defect with its newest line of power plant turbines and taking a “mammoth” $22 billion write-off, which sparked civil and criminal investigations of the multinational conglomerate.

The May 8 ruling came as a win for GE and its Latham & Watkins attorneys, who had defended shareholder claims that the alleged missteps amounted to securities-fraud violations under the Private Securities Litigation Reform Act.

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