A federal judge has refused to dismiss a massive RICO suit against four high-level IBM executives who are accused of swindling a King of Prussia, Pa., firm into investing $12 million in technology projects by hiding the truth about their market potential and continuing to solicit funds even after one of the projects had been canceled.
In his 32-page opinion in Devon IT Inc. v. IBM Corp. , U.S. District Judge Joel H. Slomsky dismissed a claim against IBM for aiding and abetting the RICO conspiracy, but refused to dismiss claims against IBM for fraud, breach of contract and negligent supervision.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]