SHAREHOLDER ALERT: Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in International B...
March 25 2015 - 12:35PM
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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