On or around 06/03/2020 (Other)
Filing Date: February 01, 2019
Plaintiff's law firm issued a press release on February 1, 2019, announcing the filing of the lawsuit. According to the press release, the Complaint alleges that GE and its Chief Executive Officer 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. The Company announced the Power Charge on October 1, 2018, and the SEC investigation began shortly after.
On April 25, 2019, the Court issued Orders consolidating cases and appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on June 21. Lead Plaintiff filed a second amended Complaint on August 30. Defendants filed a Motion to Dismiss the second amended Complaint on September 27. On May 7, 2020, the Court issued an Order granting Defendants' Motion to Dismiss. Lead Plaintiff filed a notice appealing the Court's Dismissal Order on June 3.
Company & Securities Information
Defendant: General Electric Company
Industry: Electronic Instruments & Controls
Headquarters: United States
Ticker Symbol: GE
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Ezra Birnbaum, et al. v. General Electric Company, et al.