International Business Machines Corporation ("IBM")
A securities class action has been filed in the USDC – S.D.N.Y. against International Business Machines Corporation (IBM) on behalf of all persons and entities, other than Defendants, who purchased the securities of IBM between January 18, 2018 through October 16, 2018.
The complaint alleges that, throughout the Class Period, Defendants made statements that were materially false and misleading and/or omitted to disclose that:
- Strategic Imperatives Revenue growth, CAMSS and CAMSS Components’ revenue growth, and the Company’s Segments’ revenue growth were artificially inflated as a result of the wrongful reclassification/misclassification of revenues from non-strategic to strategic to make those revenues eligible for treatment as Strategic Imperatives Revenue; and
- IBM was materially less successful in growing its Strategic Imperative business, reporting materially higher growth than it actually achieved only by wrongfully reclassifying and misclassifying revenue from non-strategic to strategic thereby reporting publicly materially false Strategic Imperative Revenue.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.
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