|Company:||General Electric Company|
|Class Period:||Sep-25-08 to Oct-1-08|
|Lead Plaintiff Deadline:||Dec-2-08|
|Court:||Southern District of New York|
The complaint charges GE and certain of its officers with violations ofSection 10(b) and Section 20(a) of the Securities Exchange Act of 1934. The complaint asserts that during an investor conference call on September 25,2008, defendants falsely stated that GE would not require any additional fund raising through debt, equity, or otherwise during the fourth quarter-ended December 31, 2008.
According to the complaint, on October 1, 2008 GE announced that it planned to offer at least $12 billion of common stock in a public offering. On October 2, 2008, before market open, GE announced the offering was to be priced at $22.25 per share, well-below the stock's prior day closing price of $24.50 per share and below its 52 week low. News that the stock offering was priced at less than the current market price caused GE's stockprice to fall over 9% on October 2, 2008.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.