As former CEO of General Electric John Flannery Everyone knows wellEverywhere you look at Formerly the large American industrial giant over there An unwelcome new discovery. The SEC knows that too, but thankfully for John Flannery Not his problem anymore.
The Securities and Exchange Commission (SEC) started in the same place it did for Flannery: The Terrifying, terrifying mirror fun approach to accounting Taken under the rule of his predecessors. And just as Flannery looked everywhere he was there An empty private plane roaming the worldEverywhere the SEC looks You find some other aspects of GE’s bookkeeping desire.
General Electric said on Tuesday it had received a notification from US Securities and Exchange Commission employees warning that the company could face a civil lawsuit over possible violations of securities laws related to the accounting practices of some of its insurance properties … Securities regulators have opened an investigation into the company’s accounting practices after Huge insurance fees. The investigation, which initially focused on long-term service agreements for maintenance of power plants, jet engines, and other industrial equipment, was expanded to include GE’s review of its insurance business.
The stock rose about 1.6% just before the 8-K lift, then fell from a high-volume slope to fall as much as 4.5% at around 2:31 pm, before paring some losses. The stock closed 3.7% down at $ 6.17, above the intraday low of $ 6.11. Volume swelled to 169.1 million shares, enough to make it the most actively traded stock on the New York Stock Exchange, and well above the full day average of about 101.2 million shares.