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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| International Business Machines Corp | NYSE:IBM | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -0.115 | -0.07% | 167.445 | 168.13 | 166.48 | 167.85 | 1,484,787 | 19:58:58 |
From May 2019 to May 2024
Iusacell SA de CV, a Mexican mobile phone operator, sued International Business Machines Corp. (IBM) on Wednesday, claiming the company made fraudulent representations that caused a loss of $2.5 billion in profits, Reuters reported Wednesday.
The complaint, filed in federal district court in New York, centered on a contract entered into in Mexico in which Iusacell claimed "IBM both knowingly misrepresented and wrongfully concealed from Iusacell material facts both before and during the parties relationship."
The lawsuit seeks more than $2.5 billion in damages, the report said.
IBM did not immediately respond to request for comment, Reuters said.
Full story at http://www.nytimes.com/reuters/2014/04/16/business/16reuters-ibm-mexico.html?src=busln
Write to nymonitoring@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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