Citron Issues Comment on General Electric ($GE) and Markopolos Report
For Immediate Release – August 16th, 2019
Yesterday was a sad day for the activist short selling community when Harry Markopolos issued a high-profile critical report of General Electric saying it is a larger fraud than Enron or WorldCom. Worse, Markopolos said this fraud has been going on for more than 20 years.
The stock of General Electric is a cornerstone of the industry in the United States and these statements were reckless and the credibility of the source is to be greatly questioned.
First, Citron would like to state that in 18 years of publishing, we have never been compensated by a third party to publish research. More important, compensation tied to the “success of a trade” would not pass internal compliance nor would it pass compliance of any fund that Citron would collaborate with on ideas.