Pomerantz LLP is investigating claims on behalf of investors of General Electric Company ("GE" or the "Company").
Such investors are advised to contact Robert S. Willoughby at email@example.com 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.
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 $0.98per share, or 8.78%, to close at $10.18 per share on October 30, 2018.