Haeggquist & Eck, LLP Investigates General Electric’s Board for Breach of Fiduciary Duty Following Announcement of Expansion of SEC and DOJ Investigations
San Diego – (Businesswire): Haeggquist & Eck, LLP, a leading shareholder rights litigation firm, is investigating whether certain directors and officers of General Electric Company (“GE” or the “Company”) (NYSE: GE) breached their fiduciary duties to the Company and its shareholders. If you are a GE shareholder, you are encouraged to contact Haeggquist & Eck for additional information.
Haeggquist & Eck is investigating whether members of the GE Board allowed the Company to make false statements and/or failed to disclose material accounting information relating to: (1) the $22 billion charge the Company booked in 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 Securities Exchange Commission (“SEC”) and the Department of Justice (“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 GE shareholder, you may have claims against the Company’s directors and officers. If you wish to discuss this notice or if you have questions about this notice or your legal rights, please contact Amber Eck at 619-342-8000 or e-mail her at email@example.com. There is no cost or obligation to you.
Haeggquist & Eck, LLP is a nationally recognized leader in shareholder rights law. The firm represents individual investors in shareholder derivative lawsuits, and members of the firm have helped shareholders recover more than $1 billion of value for themselves and the companies in which they have invested.
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Haeggquist & Eck, LLP
Amber Eck, firstname.lastname@example.org