IBM Sued Over Claim Spy Program Cooperation Hurt Sales
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An International Business Machines Corp. shareholder sued claiming the company’s cooperation with a National Security Agency eavesdropping program hurt investors as China sales dropped.
The Louisiana Sheriffs’ Pension and Relief Fund, in a complaint filed yesterday in Manhattan federal court, accuses IBM of defrauding investors by concealing the sales decline after Edward Snowden leaked information that the company was cooperating with the NSA.