What did it do?
The group enlisted the help of the Yes Men and issued a fake press release claiming GE planned to repay $3.2 billion in tax breaks to the U.S. government. The Associated Press took the bait and published a story, which it later retracted.
US Uncut, a small group that seeks to pressure corporations to avoid tax loopholes, scored major headlines for the dupe—presumably more than if it had issued a press release with real news.
Meanwhile, GE shares fell 1.6 percent from their preopen high.
So, what’s the lesson (beside the obvious one for the AP)?