IBM Deliberately Misclassified Mainframe Sales to Enrich Execs, Lawsuit Claims - News07trends -BoardProspects

IBM Deliberately Misclassified Mainframe Sales to Enrich Execs, Lawsuit Claims

News07trends Apr 7 2022 BoardNews

IBM has been sued by buyers who declare the corporate underneath former CEO Ginni Rometty propped up its inventory value and deceived shareholders by misclassifying revenues from its non-strategic mainframe enterprise – and transferring mentioned gross sales to its strategic enterprise segments in violation of securities rules. The buyers’ securities fraud lawsuit [PDF] was filed on Tuesday, April 5 in a southern New York federal courtroom...
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Topics Mentioned
- Board of Directors
- SEC
- stock options
- IBM
- York
- CFO
- Arvind Krishna
- CEO
- Q2
- lawsuit
- Fraud
- misbehavior
- investigation
- Securities Fraud
- discrimination
- Rules
- revenue
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