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The wildlife sanctuary chief Wichien, who was hailed a hero for his courage in standing up against the influential tycoon, told the media he was satisfied with the verdict, adding that justice has been served. Share Post. Tags: 16 months without suspension illegal hunting case Premchai Karnasuta released on bail. Premchai sentenced to 16 months without suspension March 19, Brexit and its impact on Thailand March 19, Related News. Opposition trains its guns on Prayut government February 23, Former deputy commerce minister in police custody February 23, A GE spokeswoman confirmed the board's conclusions and said, "We have significantly enhanced our disclosures and internal controls and are a stronger company today.
A representative for Mr. Immelt declined to comment. Lawyers representing some of the shareholders didn't immediately respond to requests for comment. McDonald's Corp. Easterbrook is fighting in court, saying the company knew about his relationships when it negotiated his severance.
GE and its former executives have denied allegations by shareholders that fraud or wrongdoing were responsible for large write-downs and the collapse in its profits and stock price. The Justice Department opened a criminal investigation into GE's accounting more than two years ago but that probe has gone quiet, according to people familiar with the matter.
The SEC probe and shareholders' allegations mainly related to GE's long-term-care insurance portfolio and deterioration of its power business around the time of Mr. Immelt's departure in mid KPMG, the company's auditor at the time, was also named in some of the shareholder letters as aiding and abetting the purported misbehavior.
The shareholders asked the board to investigate and potentially sue individuals to recover damages and claw back compensation. Under a shareholder derivative complaint, any recovered damages are typically returned to the company. The Journal reported in October that for much of Mr. Immelt's year tenure as CEO the company had a spare aircraft follow Mr.
Immelt's corporate jet to destinations around the globe, according to people familiar with the matter. GE had received an internal complaint about the practice years before it was ended, the Journal reported. In , Mr. Immelt told the Journal the practice wasn't something he had requested or approved. In December , GE's board formed a special committee to investigate claims about the backup jet and other allegations raised by shareholders.
Cravath's letter said it reviewed thousands of documents and conducted dozens of interviews, including with Mr. Immelt and other former executives.
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