Featured Articles

TSMC: Volume production of 16nm FinFET in 2H 2015

TSMC: Volume production of 16nm FinFET in 2H 2015

TSMC has announced that it will begin volume production of 16nm FinFET products in the second half of 2015, in late…

More...
AMD misses earnings targets, announces layoffs

AMD misses earnings targets, announces layoffs

AMD has missed earnings targets and is planning a substantial job cuts. The company reported quarterly earnings yesterday and the street is…

More...
Did Google botch the Nexus 6 and Nexus 9?

Did Google botch the Nexus 6 and Nexus 9?

As expected, Google has finally released the eagerly awaited Nexus 6 phablet and its first 64-bit device, the Nexus 9 tablet.

More...
Gainward GTX 970 Phantom previewed

Gainward GTX 970 Phantom previewed

Nvidia has released two new graphics cards based on its latest Maxwell GPU architecture. The Geforce GTX 970 and Geforce GTX…

More...
EVGA GTX 970 SC ACX 2.0 reviewed

EVGA GTX 970 SC ACX 2.0 reviewed

Nvidia has released two new graphics cards based on its latest Maxwell GPU architecture. The Geforce GTX 970 and Geforce GTX…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Tuesday, 06 May 2014 12:51

Pensioners pull out of IBM case

Written by Nick Farrell



Investigations cleared Big Blue

A pension and relief fund that sued IBM for failing to warn investors of loss of business in China because of its alleged involvement with spying by the U.S. National Security Agency has backed out of the case. The Louisiana Sheriffs’ Pension and Relief Fund claimed that IBM failed to inform investors that sales in China would slow after disclosures that IBM was allegedly cooperating with a NSA spying program.

IBM spokesman Doug Shelton said that the complaint proceeded to make numerous specious and false accusations, and IBM called upon the law firm that filed this action to do the right thing and dismiss it. We are pleased that they have done the right thing. Robert C. Weber, IBM’s senior vice president and general counsel, said the suit was “pushing a wild conspiracy theory.” 

IBM had attributed a drop in hardware sales in the third quarter partly to delayed procurement by Chinese government agencies while the local government framed a new economic policy. The pension fund claimed that IBM knew that the Chinese government would prohibit purchases of its products by businesses and government agencies after reports of its alleged involvement in a NSA spying program called Prism. IBM actively concealed the immediate impact the revelation of Prism had on the company’s business in China, the complaint said.

IBM denied this and said that the company had not provided client data to the NSA or any other government agency under Prism or under any surveillance program involving the bulk collection of content or metadata. Biggish Blue has not provided client data stored outside the US to the U.S. government under a national security order, such as an order under the Foreign Intelligence Surveillance Act or a National Security Letter.

 

Nick Farrell

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments