New Suit - Securities Class Action

IBM and its top officials were hit with a securities class action Friday in New York Southern District Court. The suit, brought by the Rosen Law Firm and Evangelista Worley LLC, alleges that IBM insiders engaged in a multi-year fraud to shift revenues from its mainframe business to strategic growth areas. Counsel have not yet appeared for the defendants. The case is 7:23-cv-00332, June E. Adams Irrevocable Trust Dated 7/21/14 Fbo Edward Robert Adams, individually and on behalf of all others similarly situated, v. International Business Machines Corporation et al.

Technology

January 14, 2023, 9:13 AM

Nature of Claim: 850/over alleged violations of federal securities laws