General Electric Co. disclosed Oct. 30 that the U.S. Securities and Exchange Commission has expanded an ongoing investigation into its accounting practices to include the company’s recent $23 billion writedown in its power division.
GE (NYSE: GE) made the disclosure as part of its third-quarter earnings report. Shares of the Boston-based company, which also reported a decrease in earnings and revenue, were down more than 10 percent in late afternoon trading on Oct. 30. The firm’s market cap sank…
Houston Biz Journal
GE says SEC is investigating B writedown in power unit