A lawsuit was filed on behalf of investors in International Business Machines Corporation (NYSE:IBM) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 01/30/2023 -- An investor, who purchased shares of International Business Machines Corporation (NYSE: IBM), filed a lawsuit over alleged violations of Federal Securities Laws by International Business Machines Corporation ("IBM").
Investors who purchased shares of International Business Machines Corporation (NYSE: IBM) have certain options and for certain investors are short and strict deadlines running. Deadline: March 14, 2023. NYSE: IBM investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
On October 16, 2018, post-market, IBM issued a press release announcing its preliminary results for the third quarter of 2018. Among other items, IBM reported revenue of $18.8 billion, representing a decline of 2%, as well as slowing growth in its Strategic Imperatives segment.
Shares of International Business Machines Corporation (NYSE: IBM) declined from $145.89 per share on September 21, 2018, to $101.28 per share on December 26, 2018.
The plaintiff claims that between January 18, 2018 and October 16, 2018, the defendants made false and/or misleading statements and/or failed to disclose that: (1) 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 (2) 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.
Those who purchased shares of International Business Machines Corporation (NYSE: IBM) have certain options and should contact the Shareholders Foundation.
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