GE: Tail wags the dog, as stockholders get pickup duty

摘要

In early August, the Securities and Exchange Commission announced the outcome of an investigation into allegedly fraudulent and deficient accounting by GE (formerly General Electric). The announcement revealed that GE had settled the charges by paying a $50 million fine.rnAccording to legal custom, GE's officers neither admitted nor denied the violations. However, the press reported that the company had spent over $200 million on its own investigation. Given all the pieces, there is a solid basis for inferring that the alleged wrongdoing did indeed happen.