An investigation on behalf of investors of General Electric Company (NYSE: GE) shares over potential securities laws violations by General Electric Company and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of General Electric Company (NYSE: GE) concerning whether a series of statements by General Electric Company regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Recently, General Electric Company reported a write-down of $22.8 billion impairment on it power business and has cut its dividend to a penny. In the wake of this announcement, it has reported that General Electrics accounting is under investigation by the Department of Justice and the Securities and Exchange Commission.

Shares of General Electric Company (NYSE: GE) shares declined to as low as $9.07 per share on November 2, 2018.