2022-08-26 | NYSE: IBM | Press release
Former Louisiana Attorney General Charles C. Foti, Jr., Esq., partner at the law firm Kahn Swick & Foti, LLC (“KSF & CloseCurlyDoubleQuote;), announces that KSF has opened an investigation into International Business Machines Corporation (“IBM”) (NYSE: IBM).
On October 20, 2021, the company announced its financial results for the third quarter of 2021, revealing total revenue for the quarter of $17.62 billion, a shortfall of $191.84 million according to analysts’ estimates. , largely due to its Cloud & Cognitive Software segment, which had revenue of $5.69 billion – a shortfall of around $80 million at analyst estimates of $5.77 billion.
Subsequently, the Company and certain of its officers were sued in a securities class action lawsuit, accusing them of failing to disclose material information during the Class Period, in violation of federal securities laws. securities.
KSF’s investigation focuses on whether IBM’s officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.
If you have information that could help KSF in its investigation, or if you have been an IBM stockholder for a long time and wish to discuss your legal rights, you may, at no obligation or cost to you, call toll-free 1- 877-515-1850 or email Lewis Kahn, KSF Managing Partner ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-ibm/ to learn more more.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s leading securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, fund managers and retail investors – in seeking recoveries for investment losses resulting from corporate fraud or malfeasance by listed companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you can visit www.ksfcounsel.com.