According to the Complaint, International Business Machines Corporation ranks among the world’s largest information technology companies, providing a wide spectrum of hardware, software, and service offerings.

The Complaint alleges that Defendants throughout the Class Period 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.

On April 4, 2023, the Court issued an Order appointing Lead Plaintiff and Counsel.

Lead Plaintiff voluntarily dismissed the case on June 5, 2023.