Never a dull moment in the semiconductor industry, absolutely:
"This lawsuit is yet another attempt by GlobalFoundries to cover up its fraud and deliberate breaches of contract in failing to fulfill its legal obligations to IBM, including the development and supply of high performance semiconductor chips," the company said in a statement. "IBM contributed $1.5 billion to Global Foundries to supply the next generation of chips, and Global Foundries utterly abandoned IBM as soon as the final payment was received and sold off assets from the deal for its own enrichment.
"IBM welcomes the opportunity to seek the recovery of the substantial damages it is due," the statement added.
"This lawsuit is yet another attempt by GlobalFoundries to cover up its fraud and deliberate breaches of contract in failing to fulfill its legal obligations to IBM, including the development and supply of high performance semiconductor chips," the company said in a statement. "IBM contributed $1.5 billion to Global Foundries to supply the next generation of chips, and Global Foundries utterly abandoned IBM as soon as the final payment was received and sold off assets from the deal for its own enrichment.
"IBM welcomes the opportunity to seek the recovery of the substantial damages it is due," the statement added.
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