IBM SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Reminds Investors With Losses in Excess of...
March 24 2015 - 9:00PM
Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former
Attorney General of Louisiana, Charles C. Foti, Jr., remind
investors that they have until
May 1, 2015 to file
lead plaintiff applications in a securities class action lawsuit
against International Business Machines Corporation (NYSE:IBM) if
they purchased the Company's securities between April 17, 2014 and
October 17, 2014, inclusive (the "Class Period"). This action is
pending in the United States District Court for the Southern
District of New York.
What You May Do
If you purchased shares of IBM and would like to discuss your
legal rights and how this case might affect you and your right to
recover for your economic loss, you may, without obligation or cost
to you, call toll-free at 1-877-515-1850 or email KSF Managing
Partner Lewis Kahn (lewis.kahn@ksfcounsel.com). If you wish to
serve as a lead plaintiff in this class action, you must petition
the Court by May 1, 2015.
About the Lawsuit
IBM and certain of its executives are charged with failing to
disclose material information during the Class Period, violating
federal securities laws.
On October 20, 2014, IBM announced that Globalfoundries had
agreed to "acquire" its micro-chip manufacturing operations, or
"Microelectronics" business, for a payment of $1.5 billion from IBM
to Globalfoundries, and that IBM would be taking a $4.7 billion
charge on the Microelectronics unit, which included an impairment
to reflect fair value less estimated costs to sell the
Microelectronics business and other estimated costs related to the
transaction. IBM also announced disappointing financial results for
its 2014 third quarter and reduced its 2014 guidance, stating that
earnings per share for 2014 would decline between 2%-4% compared to
$16.64 per share in 2013.
On this news, the price of IBM's shares plummeted.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former
Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers
with significant experience litigating complex securities class
actions nationwide on behalf of both institutional and individual
shareholders, you may visit www.ksfcounsel.com.
CONTACT: Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
206 Covington St.
Madisonville, LA 70447
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