This follows the group admitting that Alstom Transportation, the unit in question, had ‘significantly’ understated its losses in connection with a railcar contract in New York.
As a result the group has been forced to take a €151m (£112m) charge against its 2003 results.
Alstom has only just managed to stave off bankruptcy after securing €3.4bn in state funding from the French government, a deal which has also attracted the attention of the European Commission which is set to investigate whether state aid rules were broken.
The company will shed 5,000 jobs over the next two years and is shutting down its train-making operations in the UK.
It has promised to fully comply with the SEC investigation.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements