A lawsuit was filed on behalf of investors in General Electric Company (NYSE: GE) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 02/21/2019 -- An investor, who purchased shares of General Electric Company (NYSE: GE), filed a lawsuit over alleged Securities Laws violations by General Electric in connection with certain allegedly false and misleading statements.
Investors who purchased shares of General Electric Company (NYSE: GE) have certain options and for certain investors are short and strict deadlines running. Deadline: April 2, 2019. NYSE: GE investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of General Electric Company (NYSE: GE) common shares between October 12, 2018 and October 29, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between October 12, 2018 and October 29, 2018, the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements relating to the U.S. Securities and Exchange Commission's expanded investigation into the Company's accounting practices, including investigating GE's $23 billion goodwill impairment charge.
General Electric Company announced the U.S. Securities and Exchange Commission's expanded investigation into the Company's $23 billion goodwill impairment charge on October 1, 2018, and the SEC investigation began shortly after.
On October 30, 2018, General Electric Company announced that the SEC had expanded its previous investigation into the Company's accounting practices to now include GE's $23 billion goodwill impairment charge. The Company announced that the Department of Justice was also investigating GE.
The plaintiff claims that General Electric Company had failed to disclose this material information on October 12, 2018 when defendants announced that GE was delaying the release of the Company's quarterly earnings.
Shares of General Electric Company (NYSE: GE) declined from $13.64 per share on October 8, 2018 to as low as $6.66 per share on December 11, 2018.
Those who purchased shares of General Electric Company (NYSE: GE) have certain options and should contact the Shareholders Foundation.
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