NEW YORK, March 25, 2015 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A., a global investor rights firm, reminds purchasers of the securities of International Business Machines Corporation (NYSE:IBM) between April 17, 2014 and October 17, 2014 of the important May 1, 2015 lead plaintiff deadline.
To join the IBM class action, visit the firm's website at http://www.rosenlegal.com/cases-533.html, or contact Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or via email at pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
According to the lawsuit, the Company issued false and misleading statements and/or omitted adverse facts regarding the true value of IBM's Microelectronics business. On October 20, 2014, the Company issued a press release announcing that GlobalFoundries had agreed to "acquire" its Microelectronics business, including intellectual property rights, for a payment of $1.5 billion from IBM to GlobalFoundries, and that IBM would be taking a $4.7 billion charge to earnings on the Microelectronics unit. That same day, the Company also announced disappointing financial results for its 2014 third quarter. The lawsuit claims that when this adverse news entered the market, investors were damaged.
If you wish to serve as lead plaintiff, you must move the Court no later than May 1, 2015. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation go to http://www.rosenlegal.com/cases-533.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll-free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.