TECHNOLOGY & TELECOMMUNICATIONS
From Times Staff and Wire Reports
IBM Sued by Shareholders: Four individual investors have sued International Business Machines Corp., alleging that the computer maker wasn’t forthcoming about its financial troubles. The suit, which also names IBM Chief Financial Officer Frank Metz, was filed in U.S. District Court for the Southern District of New York and seeks unspecified damages. IBM’s stock rebounded Tuesday to close at $51.75, up $2.875, after hitting a 17-year low of $48.75 a share on Monday. “IBM believes the case to be without merit, and we intend to defend ourselves vigorously,” an IBM spokesman said.
