General Electric agreed to pay the Department of Justice a $1.5 billion penalty for alleged accounting misrepresentations stemming from the company's now defunct subprime mortgage business.
General Electric agreed to pay the Department of Justice a $1.5 billion penalty for alleged accounting misrepresentations stemming from the company's now defunct subprime mortgage business WMC.
div > div.group > p:first-child"> GE shares slid lower by 0.6% in midday trading, as the settlement amount was largely expected. The company announced the settlement in principle during the company's fourth quarter earnings report in January.
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