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Lawsuit filed for Investors who lost money in 2018 with shares of International Business Machines Corporation (NYSE: IBM)

01-25-2023 03:51 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in International Business Machines Corporation (NYSE: IBM) shares.

A lawsuit was filed on behalf of investors in International Business Machines Corporation (NYSE: IBM) shares.

An investor, who purchased shares of International Business Machines Corporation (NYSE: IBM), filed a lawsuit over alleged Securities Laws violations by International Business Machines Corporation ("IBM") in connection with certain allegedly false and misleading statements made between January 18, 2018 and October 16, 2018.

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 mail@shareholdersfoundation.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.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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