View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
February 7, 1997updated 05 Sep 2016 12:23pm


By CBR Staff Writer

Under the US securities fraud laws of the time, it seemed that when John Akers said in late 1992 that IBM Corp’s dividend was safe and the company subsequently slashed it in early 1993, shareholders that wanted to sue had the company bang to rights. But in a remarkable ruling, US District Judge Jed Rakoff in White Plains, New York, said that none of IBM’s statements about its dividend remotely smacks of fraud and that the statements that allegedly misled investors were short-term forecasts or statements of opinion, and thus were not false, misleading or actionable. The judge granted an IBM motion to dismiss the suit in early January, but did so without comment and said at the time he would issue a written order explaining his ruling at a later date.

Content from our partners
GenAI cybersecurity: "A super-human analyst, with a brain the size of a planet."
Cloud, AI, and cyber security – highlights from DTX Manchester
Infosecurity Europe 2024: Rethink the power of infosecurity

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.