N@N

Kendall Law Group Investigates General Electric Co. For Shareholders

^{Published on 2010-07-29 10:30:44 - Market Wire}
 

DALLAS--([ BUSINESS WIRE ])--[ Kendall Law Group ], a national securities firm led by a former federal judge and a former U.S. Attorney, is investigating General Electric Co. (NYSE: GE) for shareholders. The investigation concerns potential breaches of fiduciary duties by the board of directors and other company executives due to a $23 million settlement by the company with the U.S. Government due to alleged violations of the Foreign Corrupt Practices Act (FCPA). Concerned GE shareholders should contact the Kendall Law Group at 877-744-3728 or by email at [ skendall@kendalllawgroup.com ].

"GE failed to maintain adequate internal controls to detect and prevent these illicit payments."

On July 27, 2010, GE announced that it had agreed to pay $23.5 million to settle Securities and Exchange Commission (SEC) charges that its subsidiaries made payments to foreign officials in Iraq in violation of the FCPA. The SEC complaint, filed in connection with the settlement, claims that agents of the GE subsidiaries paid kickbacks labeled "after sales service fees" to Iraqi agencies to win health care and water contracts. Cheryl Scarboro, chief of the SEC's FCPA Unit, stated that "GE failed to maintain adequate internal controls to detect and prevent these illicit payments.a

Kendall Law Group was founded by a former federal judge Joe Kendall and has the credentials and experience to pursue any type of complex securities litigation in the nation. The firm helps shareholders exercise their power to protect their investments when companies break the law. If you are a General Electric shareholder, you are encouraged to contact the Kendall Law Group to learn more about your rights.