Pensioners sue IBM over reported NSA involvement
Pensioners sue IBM over reported NSA involvement: A pension investment group has sued IBM, claiming that the company failed to warn investors that sales in China would slow dramatically following revelations that IBM was helping the U.S. National Security Agency spy on the Chinese.
”IBM was well-aware that its association with the U.S. spy program and its sharing of customers’ information with the U.S. government would have immediate and adverse consequences on its business in China,” reads a lawsuit filed Thursday by the Louisiana Sheriffs’ Pension and Relief Fund in the U.S. District Court for the Southern District of New York.
The pension fund lawsuit is “pushing a wild conspiracy theory,” said Robert Weber, IBM senior vice president and general counsel, in a short statement. The company attributes the drop off in sales to a recent country-wide economic reorganization on the part of the Chinese government.