(Bloomberg) — General Electric Co. sank after the company warned that it’s likely to face U.S. Securities and Exchange Commission allegations of wrongdoing tied to a previously disclosed accounting probe.The company received a so-called Wells notice Sept. 30 advising that the SEC may pursue a civil enforcement action over possible securities violations tied to an old insurance business, according to a GE regulatory filing Tuesday. The SEC has yet to decide whether to recommend action on issues related to GE’s power-equipment business that are also under investigation.The Wells notice signals a new phase in a wide-ranging SEC investigation that began …read more
Source:: Yahoo Finance
