Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired International Business Machines Corporation (NYSE: IBM) securities.
If you suffered a loss on your IBM investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Jan 18 2018 - Oct 16 2018
CASE DETAILS: The filed complaint alleges that International Business Machines Corporation made materially false and/or misleading statements and/or failed to disclose that:
(i) Strategic Imperatives Revenue growth, CAMSS (the distinct components of “Cloud,” “Analytics,” “Mobile,” “Security,” and “Social”) 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 (ii) 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.
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