$GE: Appliances Shift $3B Back to U.S. — Yet Legacy Settlement Still Lingers

Court: S.D. New York

Case: 1:17-cv-08457

GE Appliances, now owned by Haier Smart Home, announced a $3B investment to relocate appliance production from Mexico and China back to the U.S., adding more than 1,000 jobs across Kentucky, Georgia, Alabama, Tennessee, and South Carolina. While this strengthens U.S. manufacturing, investors should note this business is no longer part of General Electric, which continues core operations in aerospace, energy, and automotive in Mexico. At the same time, GE’s settlement over past financial missteps remains a weight on its reputation.

Key Highlights

• Reshoring strategy: Refrigerators, gas ranges, and water heaters moving from Mexico & China to U.S. plants.
• Job creation: More than 1,000 U.S. jobs added through automation and modernization.
• GE’s presence in Mexico: 17 plants + Aerospace Querétaro hub with 11,000 direct jobs.
• Ownership note: GE Appliances has been owned by Haier since 2016 (licensed to use the GE brand until 2056).
• Total investment: $6.5B in U.S. manufacturing & distribution since Haier acquisition.

• Timeline OverviewOct 20, 2017 — GE cut cash flow guidance; GE dropped 7%.Nov 13, 2017 — Dividend cut 50%; stock fell 12.5%.Jan 16, 2018 — $6.2B insurance charge disclosed; GE slid 13%.Nov 1, 2019 — Investors filed lawsuit over misleading disclosures.Jan 2025 — GE finalized settlement to resolve claims.
• Allegations IncludeOverstating 2017 guidance despite Power segment weakness.Hiding cash flow and long-term insurance reserve risks.Misrepresenting financial condition during restructuring.Triggering double-digit stock losses upon disclosures.
• Investor Update$362.5M cash settlement reached.Case No. 1:17-cv-08457 (S.D. New York).Class period: Feb 19, 2016 – Apr 23, 2018.Claim deadline: Jun 20, 2025 (late claims may still be considered).

You can check more information about it and file for a payout HERE.