September 07, 2016
A New York federal judge on Wednesday dismissed a proposed shareholder class action and a similar suit filed under the Employee Retirement Income Security Act in connection with IBM's decision to transfer its microchip division, which cost it $4.7 billion, saying plaintiffs' arguments didn't pass muster.
March 18, 2016
IBM urged a New York federal judge Friday to kill three potential investor class actions that contend managerial fraud and cover-ups involving the sale of its microchip division made its stock plunge, saying the investors haven’t argued the company violated accounting rules or hid its intentions, or even that the divestment caused the price drop.