International Business Machines Corporation ("IBM" or the Company) is an American multinational technology corporation, primarily producing computer hardware and software, and cloud computing and data analytics.

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.

This case was voluntarily dismissed on May 5, 2014.