General Electric Company
0 DAYS LEFT TO SEEK LEAD PLAINTIFF STATUS
|Company Name:||General Electric Company|
|Stock Symbol :||NYSE: GE|
|Class Period Start:||07/21/2017|
|Class Period End:||10/20/2017|
|Lead Plaintiff motion:||01/02/2018|
|Type of Case:||Securities Class Action|
|Court:||General Electric Company|
Thieler Law Corp advises investors with losses exceeding $100,000 of the January 2, 2018 lead plaintiff deadline in a class action lawsuit filed against General Electric Company (NYSE: GE) (“General Electric” or “the Company”). The suit is pending in the U.S. District Court for the Southern District of New York and investors, who purchased General Electric Company securities between July 21, 2017, and October 20, 2017, have until January 2, 2018 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.
If you purchased General Electric Company securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing email@example.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.
The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that the Company's various operating segments, including its Power segment, were underperforming Company projections, with order drops, excess inventories and increased costs; in turn, the Company overstated GE's full year 2017 guidance; and as a result of the foregoing, General Electric’s public statements were materially false and misleading at all relevant times.
On October 20, 2017, the Company revealed quarterly results for the third quarter 2017, disclosing earnings per share (“EPS”) of $0.29, falling below earnings estimates of $0.49 per share. The Company also lowered 2017 earnings expectations, lowering EPS to $1.05-$1.10 from $1.60-$1.70. On that same day, the Company held a conference call to discuss its financial results and GE CEO John Flannery said that the Company was finalizing a review of its operations and that, "While the company has many areas of strength, it's also clear from our current results that we need to make some major changes with urgency and a depth of purpose. Our results are unacceptable, to say the least."
Following this news, NYSE: GE fell almost 7% or $1.51 per share, over two trading sessions, to close at $22.32 on October 23, 2017.
If you were negatively impacted by your investment in General Electric Company securities between July 21, 2017, and October 20, 2017 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.
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