SOURCE: Kahn Swick & Foti, LLC

April 17, 2015 22:00 ET

IBM SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Reminds Investors With Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against International Business Machines Corporation - IBM

NEW ORLEANS, LA--(Marketwired - Apr 17, 2015) - 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 the expanded period of January 22, 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 Information

  • Contact:

    Kahn Swick & Foti, LLC
    Lewis Kahn, Managing Partner
    lewis.kahn@ksfcounsel.com
    1-877-515-1850
    206 Covington St.
    Madisonville, LA 70447