DEADLINE ALERT: Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in International Busi...
April 23 2015 - 9:10PM
The securities litigation law firm of Brower Piven, A Professional
Corporation, announces that a class action lawsuit has been
commenced in the United States District Court for the Southern
District of New York on behalf of purchasers of International
Business Machines Corporation (“IBM” or the “Company”) (NYSE:IBM)
common stock during the period between April 17, 2014 and October
17, 2014, inclusive (the “Class Period”). Investors who wish
to become proactively involved in the litigation have until May 1,
2015 to seek appointment as lead plaintiff.
If you have suffered a loss from investment in IBM
common stock purchased on or after April 17, 2014 and held through
the revelation of negative information during and/or at the end of
the Class Period, as described below, and would like to learn more
about this lawsuit and your ability to participate as a lead
plaintiff, without cost or obligation to you, please visit our
website at
http://www.browerpiven.com/currentsecuritiescases.html. You
may also request more information by contacting Brower Piven either
by email at hoffman@browerpiven.com or by telephone at (410)
415-6616. No class has yet been certified in the above
action. Members of the Class will be represented by the lead
plaintiff and counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and
the Class, you must apply to be appointed lead plaintiff and be
selected by the Court. The lead plaintiff will direct the
litigation and participate in important decisions including whether
to accept a settlement for the Class in the action. The lead
plaintiff will be selected from among applicants claiming the
largest loss from investment in Company common stock during the
Class Period. Brower Piven also encourages anyone with
information regarding the Company’s conduct during the period in
question to contact the firm, including whistleblowers, former
employees, shareholders and others.
The complaint accuses the defendants of violations
of the Securities Exchange Act of 1934 by virtue of the defendants’
failure to disclose during the Class Period that the Company failed
to record an impairment in the value of the Company’s
Microelectronics business in conformity with applicable accounting
standards, which materially inflated IBM’s earnings during the
Class Period and rendered the Company’s 2014 earnings guidance
materially false and misleading. According to the complaint,
following the Company’s October 20, 2014 announcements, including
that Globalfoundries had agreed to “acquire” the Company’s
Microelectronics business, including intellectual property rights,
for a payment of $1.5 billion from IBM to Globalfoundries, that the
Company would be taking a $4.7 billion charge to earnings on the
Microelectronics which included an impairment to reflect fair value
less estimated costs to sell the Microelectronics business and
other estimated costs related to the transaction, and that the
Company was revising its earlier guidance for operating earnings
and that 2014 would decline compared to 2013, the value of IBM
shares declined significantly.
Attorneys at Brower Piven have extensive experience
in litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s. If
you choose to retain counsel, you may retain Brower Piven without
financial obligation or cost to you, or you may retain other
counsel of your choice. You need take no action at this time
to be a member of the class.
CONTACT:
Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616
hoffman@browerpiven.com
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