Federal Contractor Misconduct Database (FCMD)
Jander et al. v. IBM (ERISA)
IBM paid $4.75 million to settle an Employee Retirement Income Security Act (ERISA) lawsuit alleging the company violated the law by failing to act on inside information that hurt the value of its stock, which was included in the plaintiffs’ retirement plans. The plaintiffs alleged that IBM created artificially inflated stock by failing to disclose the multibillion-dollar downfall in its microelectronics unit until it sold that business.
- Misconduct Type
- Enforcement Agency
- Contracting Party
- Court Type
- Date of Settlement Announcement