My "outrage" about the shareholder lawsuit against General Electric ( GE) generated a huge number of responses from other stockholders.

Many expressed support for Karen Christiansen and her lawsuit against GE; some took the company's side or simply had no sympathy for an investor who they felt didn't do enough homework before buying.

Here are some highlights:

"I own a few thousand shares of GE for the past several years. I am extremely upset, angry, outraged and totally disappointed with the management in general and with Mr. Immelt in particular. I feel the Board is asleep or in his bag. I have lost about 90% of my net worth in GE. I suppose the small investors have no rights. Mr. Immelt should be fired so also the board. Just my rant."


"What has happened to the GE that has always been caring to their share holders??? What a disappointment to so many of us."


"I am outraged, but not because Immelt cut the dividend, but because a class action suit went forward. Christiansen should be a big girl and recognize that there are no guarantees in investing. With the current volatility of the economy and credit markets, it should be no surprise that things can change in relatively short periods of time (i.e., January to March)."


"We should applaud Christiansen for filing her deposition against Immelt. Knowingly deceiving shareholders is wrong is all aspects. However, proving that's the case is another story -- best of luck with the lawsuit. Although GE really doesn't need another headache or cash outflow (if they lose)."

"Yes, I, too, am an outraged GE investor. I purchased more shares than Ms. Christiansen did, based on the PROMISE, by Mr. Immelt that the dividend would not be cut. As an experienced top executive, he was fully aware of his exposure when he made this (foolish) promise ... and I feel GE is fully exposed to claims of fraud, deceit, false claims and stock manipulation. GE lied to the public, knowingly, willfully. They betrayed the public. I feel a class action is totally appropriate and has a good chance of winning. I have considered bringing suit against Immelt and the Company ... but have hesitated thinking that somehow GE attorneys feel they can hide behind some arcane principal or precedent that might allow such a promise, foiled by "unforeseen market forces beyond GE's control" ... an innocent and unintentional mistake. It obviously was an attempt to prop up the stock price. The entire incident was fraudulent."


"Class-action suits such as this one only serve one purpose ... to put lots of money in the pockets of the lawyers involved. As a shareholder, when I received in the mail the notice of the class action suit and the proposed settlement, I became outraged alright ... at Christiansen, not at GE."


"Like Karen C., I bought GE based on Immelt's promise regarding the dividend. I think he defrauded stockholders on that promise by cutting the dividend significantly."


"I am also outraged by Immelt and can't understand why he shouldn't be fired when the board meets next month. Of course, we all know that he has them all in his pocket. GE has lost some 80% of its value under his leadership if you can call it that. He is a blatant liar and has been deceitful to the share holders. He should be criminally prosecuted if that's possible!"

"Immelt should go and let GE get back to the wonderful company it used to be. He has run it into the ground, and now by reducing the dividend by 2/3, it makes the stock very unattractive. The people of America are getting it from the government and Wall Street, so with the cash we are holding onto, it won't be reinvested in the stock market. It is hard to know who are honorable, honest CEOs, CFOs and managers or executives in the administration. So far, there seem to be none."


"I too feel that GE along with half of the country has been lied to and because of the way the government is being run, it is going to get WORSE. How can a government continue to spend when we are already in DEEP DEBT? As a senior citizen who has saved and strived to do the right thing -- This business of "Oh, I am sorry" is NOT the answer. When I sent in my GE proxy I voted against all the current board members and Mr. Immelt. NOW WHAT?"


"What I find hard to understand is why there is so little rage directed at the Directors of these companies. Many of the Directors have very little ownership in the companies. They are much too close to management, and they should be held to the fiduciary standards the law requires. One lawsuit where personal liability resulted from Director misdeeds and a lot of the dumb pay packages will be gone."

"I have read your story about the angry GE share holder and I agree. I own 30,000+ GE and Immelt has not done his job for some time. If he makes a promise in January he should not change it one month later. I guess he really does not know what he is doing again. I also do not see any need to dump appliances and lamps. They are the heart of what GE is. They are a manufacturing company, not a bank. Get rid of Immelt."


"You're right that Immelt was wrong when he made his dividend promise (I too was fooled and lost); but it's not true that he sold stock -- he hasn't sold any; I believe that he really believed what he said, then succumbed under the pressure of analysts, board members, and the rating agencies."


"GE needs to get back to its basic manufacturing background, and all CEOs, including Jeff Immelt, need to stop making stupid and misleading comments that reverse promises made to shareholders. Unfortunately, I am one that fell into the promised dividend trap and bought GE stock."


"I share the above outrage. They should seriously consider decreasing the cutback. What about Immelt's bonus? He should pay a penalty, not get a bonus."


"Where do we add our name ... Immelt has pulled stunts like this for years. Time to hold him and the board accountable for what they say and DO!"


"I have a 20-odd-year career trading fixed income -- basically from 1979 through 2001 for three major investment banks. A core holding of mine has unfortunately been GE. I have written covered calls, and bought puts against this position, however this stock has not treated me kindly. Anyway, the recent shenanigans with GE have made me a future seller of most stock, but a buyer of corporate bonds. As a 53-year-old man, I should be moving more toward income anyway. Stockholders have been duped over the last 10 years, not the bond holders. As an ex-bond man, maybe I should thank GE for getting back to what made me successful."

"I too applaud Ms. Christiansen's suit , and I would be glad to join her Class Action. I purchased GE stock solely for the dividend in mid-January 2009 when the stock price was approximately 16.00/share. The dividend yield at that time was approximately 7.5%, and I was more than happy to sit back and collect that dividend over the next year. My purchase was made solely because of Mr. Immelt's proclamation that the "GE Dividend was safe for 2009." He lied and the company should pay the price for his recklessness."


"I too bought 1,000 shares of GE at about $12.01 on 1/23/09 after listening to Immelt on CNBC declare strong support for the dividend that week. It is particularly disgusting when he is selling shortly after that!"


"It is certainly true that companies and CEOs should be mindful of what they say. People will base actions accordingly. But at some point it gets a bit ridiculous to examine the roundness and density of the dot above the "i" or the cross of a "t." Calling the dividend sacrosanct is strong language. But, then, these are perilous economic times. Invest carefully and be ready for all contingencies. Ms. Christiansen did neither."

Hall is the editor of TheStreet.com. Previously, he served as deputy editor and chief innovation officer at The Orange County Register and as a news manager at Bloomberg News in Frankfurt, Amsterdam and Washington, D.C. As a reporter, he covered business and financial markets, worked in both print and television in the U.S. and Europe, and conducted in-depth investigative coverage at The Journal-Gazette in Fort Wayne, Ind. His work also has been published in a variety of newspapers including The Wall Street Journal, The New York Times and International Herald Tribune. Hall received a bachelor's degree in journalism and political science from The Ohio State University and has taken graduate management science courses at Boston University.

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