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Legal Opinion

In Re International Business MacHines Corp. Securities Litigation

District Court, S.D. New York

Decided February 3, 1997No. 92 Civ. 9076 (JSR), 92 Civ. 9216 (JSR), 92 Civ. 9301 (JSR), 93 Civ. 0054 (JSR), 93 Civ. 0095 (JSR) and 93 Civ. 6122 (JSR)PublishedCited by 3 opinions

1Opinion of the Court

OPINION AND ORDER

RAKOFF, District Judge.

The Court grants the motion for summary judgment of defendant International Business Machines Corporation (“IBM”).

The following undisputed facts are pertinent. In 1991, IBM suffered the most negative results in its 80-year history, culminating in fourth quarter losses of $4.95 per share. See Def.Exh. 4, at Inside Cover & 30 (1991 IBM Annual Report). The first three quarters of 1992 brought further bleak announcements of multi-billion-dollar “restructuring charges,” massive layoffs, downgrading of debt, and other bad news. See e.g., Def.Exh. 30 (IBM…

2Cases cited8 opinions

  1. Basic Inc. v. LevinsonSupreme Court of the United States · 1988
  2. San Leandro Emergency Medical Group Profit Sharing Plan v. Philip Morris Companies, Inc.Court of Appeals for the Second Circuit · 1996
  3. In Re Convergent Technologies Securities LitigationCourt of Appeals for the Ninth Circuit · 1991
  4. Hershfang v. CiticorpDistrict Court, S.D. New York · 1991
  5. Friedman v. Mohasco Corp.Court of Appeals for the Second Circuit · 1991

3 more not listed; retrieve them via the Exa API.

3Cited by3 opinions

  1. Fed. Sec. L. Rep. P 90,328 in Re International Business MacHines Corporate Securities Litigation Charles Kowal, Peter R. Herold, Albert Ominsky, Douglas Ominsky, Andrew Ominsky, Steven Horowitz, Dina Horowitz, Joan Howard, Mark Gardy, M.E. Lifshitz, Wai Chinn, Alexander Sands, Donald Lewis, Bruce Murphy, Barnett Stepak, and William Steiner v. International Business MacHines Corporation and Frank A. Metz, Jr.Court of Appeals for the Second Circuit · 1998
  2. In re General Electric Co. Securities LitigationDistrict Court, S.D. New York · 2012
  3. Kowal v. International Business Machines Corp.Court of Appeals for the Second Circuit · 1998

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