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General Electric shares drop to lowest level since July 2009

Michael Sheetz
Larry Culp spoke CNBC's David Faber in an interview on "Squawk on the Street."

Shares of General Electric dropped below $13 in Monday trading.

The company's stock fell as far as $12.86, the lowest level since July 2009. Pressure on GE has not let up this year, sliding more than 25 percent, after a dismal 2017 saw company shares slide 42 percent.

In the midst of a restructuring effort, GE recently nominated three new directors , as it looks to downsize its board.

But this year GE revealed two ongoing federal investigations: the SEC investigation into GE's accounting practices and the U.S. Justice Department investigation in connection with subprime mortgages .

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