A lawsuit has been filed against 13 current and former IBM executives, including CEO and Chairman Arvind Krishna and former CEO Ginni Rometty, accusing the company of securities fraud — bundling mainframe sales together with those of poorly performing products in order to make them appear more profitable than they actually were.
The lawsuit was filed on January 13 in the U.S. District Court for the Southern District of New York, and seeks class action status for anyone who purchased IBM shares during the period April 4, 2017, to Oct. 20, 2021.
