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Browse: Home / 2008 / September / 05 / SEC Issues Wells Notice to GE Regarding Revenue Recognition

SEC Issues Wells Notice to GE Regarding Revenue Recognition

By Securities Docket on September 5, 2008, 10:57 pm

General Electric Co. (GE) disclosed today that the SEC’s Division of Enforcement has issued a Wells Notice to the company after a three-year-old probe that examined how GE recognizes revenue and presents cash flow.  GE made the disclosure in a Form 8-K filed after the close of U.S. markets today, and stated in the filing that it “disagree[d] with the SEC staff with respect to this recommendation.”  

According to Bloomberg, a GE spokesman said that the company is in preliminary settlement discussions with the SEC.  In July 2007 GE stated that the SEC probe focused on the finance, aviation, health-care and energy units, and that “a few” workers at its locomotive unit were fired as a result. 

Read GE’s Form 8-K

Read the Bloomberg article

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Posted in SEC | Tagged Features, Wells Notice

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