Scott+Scott Attorneys at Law LLP Investigating General Electric's Directors and Officers for Breach of Fiduciary Duty Following Announcement of SEC and DOJ Investigations - (GE)
NEW YORK, Nov. 28, 2018 /PRNewswire/ -- Scott+Scott Attorneys at Law LLP ("Scott+Scott"), a national securities and consumer rights litigation firm, is investigating whether certain directors and officers of General Electric Company ("General Electric," "GE," or the "Company") (NYSE: GE) breached their fiduciary duties to the Company and its shareholders. If you are a General Electric shareholder, you are encouraged to contact Scott+Scott for additional information.
Scott+Scott is investigating whether members of the GE Board allowed the Company to make false statements and/or fail to disclose material accounting information relating to: (1) the $22 billion charge the Company booked in the Third Quarter of 2017 tied to acquisitions in GE's power unit; and (2) the $6 billion charge that GE took in the First Quarter of 2018 for a shortfall in insurance reserves. The SEC and DOJ have both opened investigations into GE's accounting practices in the wake of these announcements. The SEC is also investigating GE's revenue recognition and its controls for long-term service agreements.
What You Can Do
If you are a General Electric shareholder, you may have legal claims against the Company's directors and officers. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew toll-free at (844) 818-6982 or at [email protected].
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
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CONTACT:
Joe Pettigrew
Scott+Scott Attorneys at Law LLP
230 Park Ave, 17th Fl, NY, NY 10169
(844) 818-6982
[email protected]
SOURCE Scott+Scott Attorneys at Law LLP
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