Reminder Of The Deadline: 12/02/08 For The Class Action Lawsuit On Behalf Of Certain General Electric (NYSE:GE) Investors
Last Update In The Shareholder Class Action Lawsuit Against General Electric (NYSE:GE) For Allegedly Violating Federal Securities Laws
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A deadline is coming up in the shareholder lawsuit against General Electric (NYSE: GE) for allegedly violating Federal Securities Laws. The deadline will expire on December 2, 2008.
If you were or are an investor in General Electric Company (NYSE: GE) common stock and call option during the period beginning September 25th, 2008 through and including October 1st, 2008 you have certain rights and there are strict deadlines running (December 2, 2008). You should immediately contact the Shareholders Foundation, Inc.!
On Friday, October 3, 2008, a shareholder has filed a proposed class action lawsuit in the United States District Court for the Southern District of New York on behalf of all purchasers of General Electric Company (NYSE: GE) common stock and call option during the period beginning September 25, 2008 through and including October 1, 2008 against General Electric Company and certain of its officers over alleged violations of Federal Securities Laws by falsely stating during an conference call on September 25th, 2008, that it would not require any additional fund raising through debt, equity, or otherwise during the fourth quarter-ended December 31st, 2008. According to the complaint the plaintiff alleges that General Electric Co. and certain of its officers violated Section 10(b) and Section 20(a) of the Securities Exchange Act of 1934. Specifically the complaint accuses that during an investor conference call on September 25th, 2008, defendants falsely stated that General Electric Co. would not require any additional fund raising through debt, equity, or otherwise during the fourth quarter-ended December 31st, 2008.
Then on October 1, 2008 General Electric Co. announced that it planned to offer at least $12 billion of common stock in a public offering. On October 2, 2008, before market open, General Electric Co. announced the offering was to be priced at $22.25 per share, well-below the stock’s prior day closing price of $24.50 per share and below its 52 week low and as a result of the news that the stock offering was priced at less than the current market price caused General Electric Co.’s stock price to fall over 9% on October 2nd, 2008,so the lawsuit.
If you were or are an investor in General Electric Company (NYSE: GE) common stock and call option during the period beginning September 25th, 2008 through and including October 1st, 2008 you have certain rights and there are strict deadlines running (December 2, 2008). You should immediately contact the Shareholders Foundation, Inc.!
Shareholders Foundation, Inc.
Allen Trevor
3111 Camino Del Rio North - Suite 423 -
92108 San Diego
Tel:+1-(858)-779-1554
Fax:+1-(858)-605-5739 Mail@ShareholdersFoundation.com www.ShareholdersFoundation.com
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