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Investor Lawsuit Blames NSA For $12B Loss In IBM Value

Posted by timothy on from the anyone-can-file-a-lawsuit dept.

Jah-Wren Ryel writes "IBM Corp has been sued by the Louisiana Sheriffs' Pension & Relief Fund which 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." While anyone can file a lawsuit, being sued by an institutional investor is a little different than being sued by John Q. Disgruntled.

2 of 204 comments (clear)

  1. Re: NSA/CIA Chilling effects, billion lost. by Bing+Tsher+E · · Score: 5, Funny

    Be careful. That chip is labeled as being a 74LS245 but it's really a PIC16F84 programmed to act as one.

  2. Re:NSA/CIA Chilling effects, billion lost. by Paradise+Pete · · Score: 5, Funny

    About 40 people I was going to hire to start this business won't see the light of day.

    Vampire-based businesses traditionally don't do well anyway. Employee retention is difficult because when you tell them you're going to give them a stake in the "business" they misunderstand and flee.