A lawsuit was filed on behalf of investors in International Business Machines Corp. (NYSE:IBM) shares over alleged securities laws violations. Deadline: February 10, 2014. NYSE:IBM investors should contact the Shareholders Foundation at firstname.lastname@example.org
San Diego, CA -- (SBWIRE) -- 12/16/2013 -- An investor, who purchased shares of International Business Machines Corp. (NYSE:IBM), filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by International Business Machines Corp. in connection with certain allegedly false and misleading statements made between June 25, 2013 through October 16, 2013.
Investors who purchased a significant amount of shares of International Business Machines Corp. (NYSE:IBM) between June 25, 2013 through October 16, 2013, and / or those who purchased NYSE:IBM shares prior to 2013 and currently hold any of those shares have certain options and for certain investors are short and strict deadlines running. Deadline: February 10, 2014. NYSE:IBM investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired International Business Machines Corp. (NYSE:IBM) between June 25, 2013 through October 16, 2013, that International Business Machines Corp. and certain of its officers and directors violated the Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
International Business Machines Corp. reported that its annual Total Revenue declined from over $106.91 billion in 2011 to over $104.5 billion in 2012 and that its respective Net Income rose from over $15.85 billion in 2011 to over $16.6 billion in 2012. Shares of IBM (NYSE:IBM) grew from $80.33 per share in Nov, 2008 to as high as $214.92 per share in March 2013.
The plaintiff alleges that between June 25, 2013 through October 16, 2013 International Business Machines Corp misrepresented and concealed that its association with the U.S. National Security Agency's spy program known as "Prism" caused businesses in China as well as the Chinese government to abruptly halt doing business with IBM, leading to a precipitous decline in sales. The plaintiff claims that when International Business Machines Corp. ultimately revealed the truth regarding the collapse of its business in China, the price of NYSE:IBM stock fell almost $12 per share.
Shares of International Business Machines Corp. declined from $186.73 per share on October 16, 2013, to $172.86 per share on October 21, 2013.
On December 13, 2013, NYSE:IBM shares closed at $172.80 per share, which is significantly below its current 52 week High of $ 215.90 per share.
Those who purchased shares of International Business Machines Corp. have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego