Pensioners sue IBM over reported NSA involvement
Source: PCWorld
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...
Using material first leaked by former NSA contractor Edward Snowden in June, the pension fund cited IBM involvement in NSAs Prism program, which sought to spy on countries such as China with IBMs aid. IBM hardware sales in that country dipped in the months that followed, first showing up in the companys third-quarter balance sheet.
IBMs association with the NSA presented a material risk to the companys sales, the lawsuit said. Upon the revelation of Prism (and related disclosures made by Edward Snowden), IBM knew that the government of China would not tolerate the companys cooperation with the NSA, and would prohibit businesses and government agencies in China from purchasing IBM products....
Read more: http://www.pcworld.com/article/2080880/pensioners-sue-ibm-over-reported-nsa-involvement.html
dixiegrrrrl
(60,010 posts)Thank god people all over are finding problems due to the spying.
KoKo
(84,711 posts)Indi Guy
(3,992 posts)bucolic_frolic
(43,258 posts)and a legal one at that. Amazing.
KoKo
(84,711 posts)a Large Court Case against the Big Corps. Usually it's a cover for groups behind it that don't want to be identified. He was an "Old Country Lawyer." Like Sam Erwin of Watergate. He knew the ropes. "Always Look behind what you see on first view...he cautioned."
Pholus
(4,062 posts)But somebody should have told these dumbasses that outsourcing electronics assembly puts us at a permanent disadvantage here.
Ash_F
(5,861 posts)And the lawsuits will fly. Sad but true.