There may be compensation for GE stock – InsuranceNewsNet | Business Insurance

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in complete details.

Part of an agreement between GE and the Securities and Exchange Commissionthe SECOND found that GE it failed to disclose to investors material information about earnings growth in its energy unit and unfavorable trends in its insurance business that subsequently led to significant losses.

For decades, general electrical company was perhaps the most frequently bought single stock in erie county.

People not only felt a connection to GE Transportation, located in Lawrence Park Townshipbut plant employees could receive GE shares as part of your retirement benefit package.

Many of those same people have recently received letters notifying them that they may be eligible for compensation if they purchased GE common shares between October 2015 Y January 2018.

It is part of an agreement between GE and the Securities and Exchange Commission in which the SECOND found that GE it failed to disclose to investors material information about earnings growth in its energy unit and unfavorable trends in its insurance business that subsequently led to significant losses.

The settlement required GE contribute $200 million still GE Fair Fundestablished by the SECOND. people who bought GE common shares between October 16, 2015 Y January 16, 2018 can apply to receive compensation from this fund.

To apply for compensation, visit GEfairfund.comor complete and mail the application you received to GE Fair Fundpost office box 6978, Syracuse, New York, 13217-6978. You can also call 800-511-6120 for more information or a claim form.

There may be compensation for GE stock – InsuranceNewsNet | Business Insurance sec ben 2022 07

Applications must be postmarked or submitted online by October 19.

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GE common shares traded at $67.62 a stock on Wednesday, down from just over $100 a part when GE affected a reverse division of one by eight in July 30. The comparative value of a share of GE common stock is down 67% in the past five years.

Here are some frequently asked questions about the GE Fair Fund website:

Can those who received GE common stock through a GE employee benefits program get paid?

It depends on the details of the program you participated in. If you believe your participation in such a program involved an investment in common stock during the applicable period, file a claim and your eligibility will be determined.

if you also bought GE common shares for your account during that time, you must file a separate claim.

Am I eligible if I received GE Common stock as a gift or inheritance?

The eligibility of a claim is based on when the shares were originally purchased, not when they were gifted or inherited. Any claim must include documentation of when it was purchased and when it was transferred to you.

What documentation do I need to apply?

You will need to provide documentation of the GE ordinary shares that it owned as of the opening of the negotiation in October 16, 2015all purchases of GE common shares between October 16, 2015 Y January 16, 2018and the number of shares owned April 16, 2018.

These documents may be monthly statements from brokerage or other investment accounts, transaction confirmation receipts, or a signed letter from your broker on firm letterhead confirming the information on your application.

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Will I be notified if my claim is eligible and how much will I be paid if eligible?

A determination notice will be mailed to all claimants with the status of their claim: approved, deficient, or ineligible. If your claim is deficient, you will have the opportunity to make corrections or additions.

The amount you receive will depend on several factors, including the number of eligible claims received, the total dollar amount of those claims, and the amount of your eligible loss. GE common stock transactions. No date for payment has been provided.

HERE to HELP: Have a consumer question you’d like us to help you with? Leave a message with David Bruce at 870-1736, send an email to [email protected] or send mail to 205 West 12th Street, Erie, Pennsylvania 16534.

Part of an agreement between GE and the Securities and Exchange Commissionthe SECOND found that GE it failed to disclose to investors material information about earnings growth in its energy unit and unfavorable trends in its insurance business that subsequently led to significant losses.