Madoff whistleblower Harry Markopolos released a report on General Electric on Thursday alleging the company is hiding financial problems.
Before the report was made public, GE said, in a statement, “we have never met, spoken to or had contact with this person. While we can’t comment on the detailed content of a report that we haven’t seen, the allegations we have heard are entirely false and misleading.”
GE pointed out that Markopolos gave an unnamed hedge fund he’s working with access to the report ahead of time. Markopolos told the WSJ he’s also given it to securities regulators.
Shares of GE fell more than 4% in premarket trading.