YORK, Jan. 27, 2023 /PRNewswire/ -- Jakubowitz
Law announces that a securities fraud class action lawsuit has
commenced on behalf of shareholders of International Business
Machines Corporation (NYSE: IBM).
To receive updates on the lawsuit, fill out the
The lawsuit seeks to recover losses for shareholders who
purchased IBM between January 18,
2018 and October 16, 2018.
Shareholders interested in acting as a lead plaintiff
representing the class of wronged shareholders have until
March 14, 2023 to petition the
court. Your ability to share in any recovery doesn't require that
you serve as a lead plaintiff.
According to a filed complaint, International Business Machines
Corporation issued materially false and/or misleading statements
and/or failed to disclose that: (i) 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 (ii) 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.
Jakubowitz Law is vigorous in pursuit of justice for
shareholders who have been the victim of securities fraud. Attorney
advertising. Prior results do not guarantee similar outcomes.
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SOURCE Jakubowitz Law