SEC slaps admin order on IBM
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Probe dropped after two years - no admissions or denials IBM has struck a deal with the SEC under which it promises not violate to security laws - not that it's admitting or denying that itâs ever done such a thing in the past.â¦
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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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JP Morgan Chase &amp; Co., the country&#39;s second-largest bank, announced yesterday that it was ending a $5 billion outsourcing contract with IBM Corp.
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Plans by International Business   Machines Corp. IBM.N, the world's largest technology services   company, to acquire MRO Software Inc. MROI.O for $740 million   have received U.S. antitrust approval, U.S. officials said on   Wednesday.
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IBM (NYSE: IBM) has -- again -- sought to have the pending legal claims by The SCO Group dismissed. According to a motion it filed in a U.S. district court, IBM argues that SCO has no evidence to support its claims that it appropriated confidential source code from Unix System V and placed it in Linux.
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The deal makes the Chinese company the world&#39;s third biggest PC maker and pushes IBM to the sidelines of a field it once ruled.
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Lawyers for software vendor Compuware (Quote, Chart) filed a motion with a US District Court in Michigan asking a federal judge to impose sanctions against IBM for producing source code two years too late.
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IBM has filed a 100-page motion with a US district court in an attempt to have some of the claims made against it by The SCO Group dismissed.
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SAN FRANCISCO (CBS.MW) -- IBM Corp. said Wednesday it would take a $320 million charge toward its third-quarter earnings as part of an agreement to resolve certain claims in a lawsuit brought against its pension plan.
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IBM (nyse: IBM - news - people ) just can&#39;t stay out of the news this week. On Wednesday the firm announced its deal with China&#39;s Lenovo, a giant step toward Chief Executive Samuel Palmisano&#39;s goal of shifting
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The federal judge hearing the SCO Group's suit against IBM (NYSE: IBM) has denied IBM's motion for a partial summary judgment. If granted, the declaration likely would have ended the courtroom wrangle.
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A federal magistrate has ordered IBM Corp. to reimburse software maker Compuware Corp. for costs relating to evidence that IBM produced only three months before Compuware's lawsuit was scheduled to go to trial.
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IBM (NYSE: IBM) has launched a new version of its WebSphere application server software, adding autonomic troubleshooting capabilities and other new features designed to improve performance in the middleware platform.
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JP Morgan Chase is cancelling a $5bn IT outsourcing deal with IBM and bringing the service back in-house. IBM will hand over the running of the investment bank&#39;s data centres, help desks, distributed computing, data and voice networks from January 2005.
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Nov. 22, 2004. Troubled business software company Computer Associates International Inc. reportedly has selected longtime IBM executive John Swainson as its new chief executive.
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Blue Gene L leads the group followed by SGI&#39;s NASA installation and NEC&#39;s Earth Simulator Center in the third position. NEW YORK: IBM, the world&#39;s biggest computer maker, has regained its position at the head
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(InfoWorld) - The Securities and Exchange Commission has taken the drastic step of suspending trading in shares of 35 companies whose stocks have frequently been touted in mass spam campaigns. SEC officials said on Feb. 8 that the firms involved -- none of which are household names -- have been the subject of repeated spam efforts meant to drive up trading of their securities and, subsequently, the value of the companies themselves. The trading bans will last for 10 days, after which shares in the involved companies will be unlocked -- unless the SEC's ongoing investigation proves any of the firms were involved in the e-mail schemes. While the ban might seem unfair to the businesses involved, especially if their names and securities were merely selected by scammers looking for penny stocks to inflate in so-called pump-and-dump operations, SEC officials said that in each business's case, there were sufficient questions raised regarding the "adequacy and accuracy" of information being advertised about the companies. Criminals have increasingly begun using spam to drive up interest in cheap stocks over the last several years. Before sending out mass messages about a specific firm, the individuals buy stock in the companies in the expectation that, with their e-mails, they can convince other people to purchase shares. When prices of the shares involved rise, the schemers sell off their own holdings, thus the pump-and-dump moniker. The spam messages, which often feature subject lines such as "Fast Money," have become one of the types of unwanted e-mail most frequently delivered to inboxes over the last year, alongside advertisements for prescription medications. Whenever misleading information is being widely distributed about a firm whose securities are traded, the SEC takes such actions, an agency representative said. "All we can say is that we suspend trading any time we think misinformation about specific securities is being reported," said Helene Glotzer, an SEC spokeswoman. "We're not making a statement that these companies themselves were behind the misstatements, but if the information is out there we feel it is important to let the investing public know; we'll continue our investigation, and if it is appropriate to take action against any of the companies, that is what we will do." The suspensions are part of an SEC initiative known as Operation Spamalot, which was launched specifically to shield investors from spam e-mail "hyping" small company stocks. SEC officials said that anyone who has received such e-mail will recognize the names of the companies who were suspended, as they are among the most frequently cited businesses in securities-related spam campaigns. The messages typically advertise some new product or impending deal that will increase the value of the companies and encourage investors to buy their low-priced securities, which are usually penny stocks. For instance, among the companies whose shares were suspended is Apparel Manufacturing Associates, a Bloomfield, Conn.-based firm that markets itself as a management and development company focused on the fashion arena. The SEC said that on Friday, Dec. 15, 2006, shares in Apparel Manufacturing closed at 6 cents, on a trading volume of 3,500 shares. After a weekend-long spam campaign using e-mails about the company advertising "huge news" that encouraged investors to "get in before the wire," trading volume in the stock rose to 484,568 shares on Monday, Dec. 18, with the price of the stock rising to more than 19 cents a share. The agency said that two days later the price had climbed to 45 cents per share, but one week after, Apparel Manufacturing's share price had fallen to 10 cents on trading volume of 65,350 shares. Calls to the company seeking comment on the stock suspension were not immediately returned. If the SEC investigation finds no link between the companies involved and the spam campaigns, their shares will be released for trading on March 21, 2007. SEC officials noted that the suspensions were all handed out to companies that are not subject to the SEC reporting requirements and whose shares are not listed on any exchange or on the OTC Bulletin Board. This means that brokers posting quotations for the purchase and sale of the securities are not required to conduct due diligence regarding the issuers, according to the agency. The 35 companies whose trading was suspended by the SEC are: Advanced Powerline Technologies, America Asia Petroleum, Amerossi International Group, Apparel Manufacturing Associates, Asgard Holdings, Biogenerics, China Gold, CTR Investments & Consulting, DC Brands International, Equal Trading, Equitable Mining, Espion International, Goldmark Industries, GroFeed, Healtheuniverse, Interlink Global, Investigative Services Agencies, iPackets International, Koko Petroleum, Leatt Corporation, LOM Logistics, Modern Energy, National Healthcare Logistics, Presidents Financial, Red Truck Entertainment, Relay Capital, Rodedawg International Industries, Rouchon Industries, Software Effective Solutions, Solucorp Industries, Sports-stuff.com, UBA Technology, Wataire Industries, WayPoint Biomedical Holdings, and Wineco Productions.