General Electric shares fell 5% on Thursday after the Wall Street Journal report...
FILE PHOTO: The General Electric Co. logo is seen on the company's corporate headquarters building in Boston, Massachusetts, U.S. July 23, 2019. REUTERS/Alwyn Scott
- General Electric shares fell 5% on Thursday after the Wall Street Journal reported that Harry Markopolos, a whistleblower in the Bernard Madoff Ponzi case, had alleged that company financial filings masked the depths of its problems. The Journal quoted Markopolos as saying in a research report that GE is short on working capital — a key measure of liquidity — and that its cash situation is far worse than disclosed in its regulatory filings.In response to the WSJ article, GE said it “stands behind its financials” and operates to the “highest-level of integrity” in its financial reporting.
“We remain focused on running our business every day and ... will not be distracted by this type of meritless, misguided and self-serving speculation,” the company said in a statement.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Here's the full report calling GE 'a bigger fraud than Enron'These are the stocks posting the largest moves before the bell.
Baca lebih lajut »
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.
Baca lebih lajut »
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.
Baca lebih lajut »
Stocks making the biggest moves premarket: Walmart, GE, Tapestry, Alibaba, Boeing & moreStocks making the biggest moves premarket: Walmart, GE, Tapestry, Alibaba & more
Baca lebih lajut »
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.
Baca lebih lajut »
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.
Baca lebih lajut »