2022-09-09 | NYSE: IBM | Press release

NEW ORLEANS, September 9, 2022 /PRNewswire/ — Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq.partner at the law firm Kahn Swick & Foti, LLC (“KSF”), announces that KSF has initiated an investigation into International Business Machines Corporation (“IBM”) (NYSE: IBM).

On October 20, 2021the Company announced its financial results for the third quarter of 2021, disclosing total revenues for the quarter of $17.62 billiona lack of $191.84 million according to analysts’ estimates, largely thanks to its Cloud & Cognitive Software segment, which achieved revenues of $5.69 billion – a shortfall of approximately $80 million based on 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 KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), 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.

Contact:

Kahn Swick & Foti, LLC

Lewis KahnManaging partner

lewis.kahn@ksfcounsel.com

1-877-515-1850

1100 Poydras Street, Suite 3200

New Orleans, LA 70163

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SOURCE Kahn Swick & Foti, LLC