Shares of General Electric Co. GE, -1.23% slumped 1.6% in active morning trade Thursday, after reports that the head of the company in Latin America was arrested by Brazilian police, as part of an investigation into companies accused of taking cash from public health contracts. Volume topped 13.3 million shares, making the stock the most actively traded on the NYSE. A WSJ report from Wednesday said GE’s DAurio Speranzini Jr. was accused of taking part in a cartel, when he worked for Philips Medical Systems, whihc was set up to fix prices for medical equipment tenders. The report said GE stated that the allegations against Speranzini related to a time when he didn’t work for GE. The stock has gained 3.2% since it left the Dow Jones Industrial Average DJIA, +0.08% after the June 25 close, while the Dow has inched up 0.2%. Year to date, GE’s stock has tumbled 25% and the Dow has slipped 1.7%.
GE's stock falls on NYSE leading volume after report head of Latin America was arrested
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