NEW YORK, June 3, 2022- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of International Business Machines Corporation (NYSE: IBM).
The lawsuit seeks to recover losses for shareholders who purchased IBM between April 4, 2017 and October 20, 2021.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until June 6, 2022 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 and growth, CAMSS and CAMSS Components’ revenue and growth, and the Company’s Segments’ revenue and growth were artificially inflated as a result of the wrongful reclassification of revenues from non-strategic to strategic to make those revenues eligible for treatment as Strategic Imperatives Revenue; (ii) the Company’s present success and positive future growth prospects concerning its Strategic Imperative business strategy were being fueled by the wrongful reclassification of revenues from non-strategic to strategic to make those revenues eligible for treatment as Strategic Imperative Revenue and, as a result (iii) the Company misled the market by portraying the Company’s Strategic Imperative’s financial performance and future prospects more favorable than they actually were as a result of the wrongful reclassification of revenues from non-strategic to strategic to make those revenues eligible for treatment as Strategic Imperatives.
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.
This article was shared with Prittle Prattle News as a Press Release.
