IBM agrees on partial pension settlement
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In a decision that eventually may affect millions of workers, IBM says it will pay $320 million to settle part of a pension plan lawsuit.
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Legal action was taken against IBM concerning its conversion to a controversial cash-balance pension plan. Under the terms of the agreement, IBM will pay at least $300 million to settle certain claims in the complex lawsuit.
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IBM has said that it has agreed to pay $320 million to current and former employees to settle in part a class-action lawsuit over its pension plan in a case that may affect millions of workers at many companies and nonprofit organizations.
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IBM Corp. and plaintiffs challenging the legality of its pension plan agreed to a deal Wednesday that settles most claims and caps the company's potential liability at &#36;1.7 billion. The company previously had estimated that a settlement could cost up to &#36;6.5 billion.
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International Business Machines Corp. said yesterday it will pay at least $300 million to settle part of a lawsuit that claimed the firm's pension plan discriminated against older workers.
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Not admitting liability IBM is paying up to $65m in backdated overtime pay to 32,000 US-based techies,to settle a federal class action suit.â¦
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IBM Corp. and plaintiffs challenging the legality of its pension plan agreed to a deal Wednesday that settles most claims and caps the company&#39;s potential liability at $1.
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NEW YORK - IBM Corp. posted quarterly results on Monday showing 9 percent revenue growth from last year and slight earnings growth, despite a $320 million charge it took during the quarter to settle some claims in a lawsuit over its pension plan.
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IBM Corp. said Wednesday it will take a $320 million charge this quarter to settle some claims and cap its liability on others in a long-running class-action dispute about changes made in the 1990s to its pension plan.
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International Business Machines Corp.  has settled for an undisclosed sum part of a potentially multi-billion-dollar lawsuit over its pension plan, a Wednesday court filing shows.
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The judge presiding over a massive pension suit against IBM, which could cost the company more than $6.5 billion, agreed Friday to a delay while settlement talks continue.
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IBM, in the latest turn in a pension plan case that could reverberate through the Fortune 500, said on Friday it is in talks to resolve some of the issues in a lawsuit that could cost Big Blue billions of dollars.
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The judge presiding over a massive pension suit against IBM, which could cost the company more than &#36;6.5 billion, agreed Friday to a short delay while settlement talks continue.
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NEW YORK, December 31  - In a filing with the Securities and Exchange Commission, International Business Machines (IBM.
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IBM has signed a seven-year, &#36;969.2 million contract with British bank Lloyds TSB to supply it with Internet telephony and data services, IBM said on Monday.
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HARTFORD, Conn. -- An investment firm that was found in breach of contract in a lawsuit involving the state&#39;s pension fund has settled for $15 million, the two sides announced Monday.
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IBM Corp. said Wednesday it will take a US$320 million charge this quarter to settle some claims and cap its liability on others in a long-running class-action dispute about changes made in the 1990s to its pension plan.