Pomerantz LLP is investigating claims on behalf of investors of General Electric Company ("GE" or the "Company") (NYSE: GE). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether GE and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On October 1, 2018, GE disclosed a $23 billion goodwill impairment charge to its GE Power segment. Shortly after this announcement, GE learned that the U.S. Securities and Exchange Commission ("SEC") had expanded its ongoing investigation relating to the Company's revenue recognition and internal controls over financial reporting to include the GE Power Charge. On October 30, 2018, GE announced the expansion of the SEC's investigation and further announced that the Department of Justice was also investigating GE. Following these announcements, GE's stock price fell $0.98 per share, or 8.78%, to close at $10.18 per share on October 30, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT:Robert S. WilloughbyPomerantz LLPrswilloughby@pomlaw.com
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SOURCE Pomerantz LLP