General Electric Agrees to Pay $200M Fine for Misleading Investors
“The Securities and Exchange Commission announced Wednesday that General Electric Co. … has agreed to pay a $200 million penalty to settle charges for misleading investors regarding the profitability and risks to some of its core business lines, the agency said.” reports Chris Matthews in MarketWatch’s Economy & Politics.
“The order found that the company misled investors in 2016 and 2017 about the source of profitability in its GE Power business, and failed to inform investors of risks relating to its portfolio of long-term health insurance liabilities between 2015 and 2017.”
“General Electric stock fell 75.7% from the beginning of 2016 through the end of 2018, according to FactSet.”
