General Electric Co Chief Executive Larry Culp said on Thursday that a report al...
FILE PHOTO: General Electric Co. Chief Executive Officer Larry Culp mingles with shareholders at the company’s annual meeting in Tarrytown, New York, U.S., May 8, 2019. REUTERS/Alwyn Scott
NEW YORK - General Electric Co Chief Executive Larry Culp said on Thursday that a report alleging GE was hiding financial problems was “market manipulation – pure and simple.” In a statement responding to a report alleging fraud at GE, Culp said the report “contains false statements” and that author Harry Markopolos stood to gain from short-selling related to the report. GE’s shares fell as much as 15% Thursday after the report came out.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GE shares drop after Madoff whistleblower Harry Markopolos raises red flags on its accountingGE confirmed the existence of the report in a statement to CNBC.
Read more »
Harry Markopolos says he can't reveal the hedge fund he's working for in his investigation of GEMadoff whistleblower Harry Markopolos is probing GE on behalf of a hedge fund — but he won't say which one.
Read more »
Here's the full report calling GE 'a bigger fraud than Enron'These are the stocks posting the largest moves before the bell.
Read more »
GE shares fall on report that cash situation worse than thoughtGeneral Electric shares fell 5% on Thursday after the Wall Street Journal report...
Read more »
GE Is New Target of Madoff WhistleblowerMadoff whistleblower Harry Markopolos alleges that GE’s cash situation is worse than disclosed and that GE needs to boost its insurance reserves. GE says the claims are false and misleading.
Read more »
Stocks making the biggest moves premarket: Walmart, GE, Tapestry, Alibaba, Boeing & moreStocks making the biggest moves premarket: Walmart, GE, Tapestry, Alibaba & more
Read more »