enhanced_deficit
12-13-2013, 10:02 PM
Lawsuit accuses IBM of hiding China risks amid NSA spy scandal
Published: Friday, 13 Dec 2013 | 9:00 AM ET
http://fm.cnbc.com/applications/cnbc.com/resources/img/editorial/2013/11/03/101165661-184684749.240x160.jpg?v=1383520642
IBM has been sued by a shareholder who accused it of concealing how its ties to what became a major U.S. spying scandal reduced business in China and ultimately caused its market value to plunge more than $12 billion.
IBM lobbied Congress hard to pass a law letting it share personal data of customers in China and elsewhere with the U.S. National Security Agency in a bid to protect its intellectual property rights, according to a complaint filed in the U.S. District Court in Manhattan.
The plaintiff in the complaint, Louisiana Sheriffs' Pension & Relief Fund, said this threatened IBM hardware sales in China, particularly given a program known as Prism that let the NSA spy on that country through technology companies such as IBM.
http://www.cnbc.com/id/101271322
Published: Friday, 13 Dec 2013 | 9:00 AM ET
http://fm.cnbc.com/applications/cnbc.com/resources/img/editorial/2013/11/03/101165661-184684749.240x160.jpg?v=1383520642
IBM has been sued by a shareholder who accused it of concealing how its ties to what became a major U.S. spying scandal reduced business in China and ultimately caused its market value to plunge more than $12 billion.
IBM lobbied Congress hard to pass a law letting it share personal data of customers in China and elsewhere with the U.S. National Security Agency in a bid to protect its intellectual property rights, according to a complaint filed in the U.S. District Court in Manhattan.
The plaintiff in the complaint, Louisiana Sheriffs' Pension & Relief Fund, said this threatened IBM hardware sales in China, particularly given a program known as Prism that let the NSA spy on that country through technology companies such as IBM.
http://www.cnbc.com/id/101271322