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Compass
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U.S. District Court Dismisses Two Stock-Drop Cases Against IBM
Pensions & Investments Sept. 8, 2016 "A federal district court judge in New York dismissed two lawsuits Wednesday against International Business Machines Corp. that alleged the company failed to adequately disclose information and/or take appropriate action to protect shareholders regarding the disposal of a troubled business unit.... [One] case was dismissed, the judge wrote, because plaintiffs only offered 'a rote recitation of proposed remedies' without providing necessary facts to support their complaints. The [second] case was dismissed because plaintiffs failed to prove IBM's intent to keep information hidden. 'It is far more plausible the defendants were not deceitful but mistaken,' he wrote." |
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