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(GE) General Electric Company - Bronstein, Gewirtz & Grossman, LLC Updates Class Action and Lead Plaintiff Deadline: April 2, 2019
Globe Newswire 15-Mar-2019 2:00 PM
NEW YORK, March 15, 2019 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against General Electric Company ("GE" or the "Company") (NYSE:GE) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired GE securities between December 27, 2017 and October 29, 2018, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/ge.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that Defendants made materially false and misleading statements and/or failed to disclose material adverse facts relating to the U.S. Securities and Exchange Commission's (the "SEC") expanded investigation into the Company's accounting practices, including investigating GE's $23 billion goodwill impairment charge (the "Power Charge"). GE announced the Power Charge on October 1, 2018, and the SEC investigation began shortly after.
The truth was revealed on October 30, 2018, when GE announced that the SEC had expanded its previous investigation into its accounting practices to now include the Power Charge. GE also stated that the Department of Justice was also investigating GE. Following this news, GE stock dropped roughly 10% to close at of $10.18 per share on October 30, 2018.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/ge or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in GE you have until April 2, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
