$4.75M Settlement In IBM Stock-Drop Case Gets Final Approval

Mealey's (July 26, 2021, 1:21 PM EDT) -- NEW YORK — A federal judge on July 21 granted final approval to a $4.75 million class settlement in a lawsuit brought by participants in an International Business Machine Corp. (IBM) employee stock option plan (ESOP) who accused the plan’s fiduciaries of violating the Employee Retirement Income Security Act by continuing to invest funds in IBM common stock despite their insider knowledge that the stock price was artificially inflated....

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