The SEC’s Investigation Of GE Accounting

Law360, New York (September 1, 2009, 12:47 PM EDT) -- On Aug. 4, the U.S. Securities and Exchange Commission charged General Electric Company with fraud and multiple violations of the federal securities laws (FSLs) in a civil action that GE has agreed to settle by paying a $50 million penalty and consenting to the entering of an order permanently enjoining the company from violating the antifraud, reporting, record-keeping and internal control provisions of the FSLs.

GE agreed to pay the substantial financial penalty and to entry of the order without admitting or denying the allegations, thereby...
To view the full article, register now.