Case Page

 

Case Status:    DISMISSED    
On or around 05/22/2014 (Other)

Filing Date: December 12, 2013

According to the law firm press release, the Complaint alleges that during the Class Period, IBM 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. When the Company ultimately revealed the truth regarding the collapse of its business in China, the price of IBM stock fell almost $12 per share.

On March 10, 2014, the Court issued an Order appointing lead plaintiff and approving lead counsel.

On May 5, 2014, the Court signed and ordered Lead Plaintiff's Notice of Voluntary Dismissal.

COMPANY INFORMATION:

Sector: Technology
Industry: Computer Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: IBM
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 13-CV-08818
JUDGE: Hon. Denise L. Cote
DATE FILED: 12/12/2013
CLASS PERIOD START: 06/25/2013
CLASS PERIOD END: 10/16/2013
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Litowitz Berger & Grossmann LLP (New York, NY)
    1285 Avenue of the Americas, 33rd Floor, Bernstein Litowitz Berger & Grossmann LLP (New York, NY), NY 10019
    212.554.1400 212.554.1444 · blbg@blbglaw.com
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