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For what it is worth, the website that was launched alongside the fraud allegations has already been removed. http://web.archive.org/web/20190929121126/https:/
by seren 7y ago
For what it is worth, the website that was launched alongside the fraud allegations has already been removed.
http://web.archive.org/web/20190929121126/https://www.gefraud.com/ http://web.archive.org/web/20190929121126/https://www.gefrau...
So basically, there was some media orchestration, GE stock dipped somewhat, potentially the hedge fund paying Markopolos made some benefits and there was not really any follow up (so far) from the SEC. And the website disappeared a month later.
I felt that the reactions from analysts were that most long term care insurances are problematic, GE possibly a bit more but not spectacularly worse than competition, and that the "fraud" part was a bit overblown.
We'll see if the SEC will open an investigation, but so far not a lot happened.
Still even without being a fraud, this might be an issue in the years to come for GE to be able to generate enough cash to pay for its long term care business...
- guardiangod 7y ago>the website that was launched alongside the fraud allegations has already been removed. Maybe the SEC is starting the case and asked the tipsters to remove all relevant documents online to prevent prejury?