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Case Page

 

Case Status:    ONGOING    
On or around 01/23/2023 (Date of last review)

Filing Date: January 13, 2023

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.

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