4 ms·
> stems from understated liabilities in its insurance business, misrepresentation of its cash situation, and improper accounting for its acquisition of a stake
by _rpd 7y ago
> stems from understated liabilities in its insurance business, misrepresentation of its cash situation, and improper accounting for its acquisition of a stake in the oil field services provider Baker Hughes.
So it stems from a dispute between the opinions of "fraud hunter" Harry Markopolos and the professionals employed by GE.
This seems to be a "Everything Everywhere Is Securities Fraud" situation.
https://www.bloomberg.com/opinion/articles/2019-06-26/everything-everywhere-is-securities-fraud https://www.bloomberg.com/opinion/articles/2019-06-26/everyt...