NEW YORK,
March 10,
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
form:
https://claimyourloss.com/securities/international-business-machines-corporation-class-action-submission-form/?id=37152&from=4
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.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (628) 895-0423
F: (212) 537-5887
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SOURCE Jakubowitz Law