It hasn’t received any publicity, which is surprising given that IBM Corp is such a high-profile company, but we thought that even IBM couldn’t get away with its chief executive saying he knew as far back as November that early 1991 would be tough but didn’t think it would be as bad as it turned out, and Fortune magazine reports that an investor in Chicago, one of that sturdy band of US investors that believes he has a divine right to make money on his holdings and that it must be somebody else’s fault if he doesn’t, has launched a lawsuit seeking class status against the company on behalf of all those that bought shares after November 30 and still held them on April 12 when IBM released first quarter figures.
