General Electric Company (NYSE: GE) Investor Securities Class Action Lawsuit 02/01/2019

If you purchased a significant amount of shares of General Electric Company (NYSE: GE) between October 12, 2018 and October 29, 2018 , and / or if you purchased any NYSE: GE shares prior to October 2018 and continue to hold any of those shares, you 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, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
General Electric Company
Case Name: 
General Electric Company Shareholder Class Action Lawsuit 02/01/2019
Case Status: 
Lawsuit Filed
Affected Securities
NYSE: GE
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
02/01/2019
Class Period Begin: 
10/12/2018
Class Period End: 
10/29/2018
Court of Filing: 
U.S. District Court for the Southern District of New York
Deadline To File for Lead: 
04/02/2019
Summary: 

An investor in shares of General Electric Company (NYSE: GE) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by General Electric in connection with certain allegedly false and misleading statements made between October 12, 2018 and October 29, 2018.

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.