SOURCE: Brower Piven, A Professional Corporation

October 11, 2008 06:00 ET

Brower Piven Encourages Investors Who Have Losses in Excess of $200,000 From Investment in General Electric Company to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the December 2, 2008 Lead Plaintiff Deadline

BALTIMORE, MD--(Marketwire - October 11, 2008) - Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of securities of General Electric Company ("GE" or the "Company") (NYSE: GE) during the period between September 25, 2008 and October 1, 2008, inclusive (the "Class Period").

No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than December 2, 2008 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You may contact Brower Piven (through or 410/332-0030) to answer any questions you may have in that regard.

The complaint includes claims against GE and certain of its officers with violations of Section 10(b) and Section 20(a) of the Securities Exchange Act of 1934. The complaint asserts that during an investor conference call on September 25, 2008, defendants falsely represented that GE would not require any additional fund raising through debt, equity, or otherwise during the fourth quarter-ended December 31, 2008 but that 5 days later, on October 1, 2008, the Company announced that it planned to offer at least $12 billion of common stock in a public offering. The complaint further alleges that on October 2, 2008, GE announced the offering was to be priced at $22.25 per share, below the stock's prior day closing price of $24.50 per share and below its 52 week low, an announcement that caused the value of GE shares to decline significantly.

If you have suffered a net loss for all transactions in General Electric Company securities during the Class Period, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at, by email at, by calling 410-332-0030, or at Brower Piven, A Professional Corporation, The World Trade Center-Baltimore, 401 East Pratt Street, Suite 2525, Baltimore, Maryland 21202. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 40 years. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.

Contact Information

    Charles J. Piven
    Brower Piven, A Professional Corporation
    Baltimore, Maryland
    Email Contact