SEC
Whistleblower
Attorneys
Landmark Lawsuit Filed Against SEC to Protect Future Whistleblowers

December 09, 2020

General Electric Co.

Financial Fraud

SANCTION AMOUNT: $200000000

Defendants: General Electric Co.

Respondent GE settled SEC allegations that it misled investors with a series of disclosure failures concerning its power and insurance businesses. In particular, the SEC found that GE failed to disclose: (i) that certain profits stemmed from reductions of prior cost estimates; (ii) an increase in current industrial cash collections was coming at the expense of cash in future years and came primarily from internal receivable sales; and (iii) corresponding uncertainties from lowered projected insurance claim costs.

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