BigClassActions.com

General Electric Company GE Securities Stock Fraud

- by

Company: General Electric Company
Ticker Symbol: GE
Class Period: Sep-25-08 to Oct-1-08
Date Filed: Oct-3-08
Lead Plaintiff Deadline: Dec-2-08
Court: Southern District of New York
Allegations:
A class action lawsuit has been filed on behalf of all purchasers of General Electric Company common stock and call option during the period beginning September 25, 2008 through and including October 1, 2008 (the "Class Period"). No class has yet been certified in this action.

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.

General Electric Company GE Securities Fraud Legal Help

If you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible General Electric Company securities class action lawsuit. Please fill in our form on the right to submit your complaint for a free evaluation.

Maybe it's your stockbroker

Add Your Comment on This Issue

Fields marked * are mandatory. Please read our comment guidelines before posting.

*Name:

Note: Your name will be published with your comment.

*Email Address:

Your email will only be used if a response is needed.

*Your Comment:
Request Legal Help