GE Shares Fall After Company Says It Got SEC Wells Notice
October 06 2020 - 3:06PM
Dow Jones News
By Michael Dabaie
General Electric Co. shares turned negative in afternoon
trading, recently down 4% to $6.16 after trading higher
earlier.
The company said in a Securities and Exchange Commission filing
that SEC staff issued a "Wells notice" advising GE it is
considering recommending to the SEC it bring a civil injunctive
action against GE for possible violations of securities laws.
GE said it was informed the issues relate to the historical
premium deficiency testing for GE Capital's run-off insurance
operations, as well as GE's disclosures relating to such run-off
insurance operations.
GE said in the filing it disagrees with the SEC staff on this
recommendation and will provide a response through the Wells notice
process.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
October 06, 2020 14:51 ET (18:51 GMT)
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