The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased General Electric Company (NYSE: GE) securities between December 27, 2017 and October 29, 2018.
According to the General Electric lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) the design and technology of GE Power’s flagship gas turbines were structurally flawed as they were plagued with an oxidation problem that caused the blades in the H-Class gas turbines to fail; (ii) GE Power’s goodwill was materially overstated, in large part because of such structural issues; (iii) the Company lacked adequate internal and financial controls; and (iv) as a result of the foregoing, Defendant’s public statements were materially false and/or misleading and/or lacked a reasonable basis.
If you suffered a loss in General Electric 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.
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