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IBM at further loss

P

Pawan Fangaria

New member
Last October IBM sold off its chip manufacturing business to GlobalFoundries at a loss agreeing to pay GlobalFoundries $1.5B.

The hangover is not over yet. A Michigan public pension fund has sued IBM for misleading investors about the actual value of this business. The fund claimed that IBM failed to account for decline in value of the manufacturing unit.

View attachment 13502

That's IBM, read the full story here.

Now that's an irony for the firm when it's already suffering from the big loss. Need to see how this gets settled.
 
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