IBM shareholder drops NSA lawsuit over China biz loss
An IBM shareholder has decided to drop a lawsuit filed against the company alleging its cooperation with the U.S. National Security Agency (NSA) in a cyberspying scheme had resulted in a loss of business in China.
The Louisiana Sheriffs' Pension & Relief Fund had alleged the loss of Chinese business caused IBM's market value to dip by nearly US$13 billion, and sued Big Blue for failing to reveal its involvement in NSA cyberspying program.
Its decision to end the lawsuit followed an "extensive additional investigation into the matters alleged, which included investigations conducted in the U.S. and China", according to a Reuters report, citing a letter published by John Browne, a lawyer for lead plaintiff Louisiana Sheriffs' Pension & Relief Fund in Baton Rouge. Additional information was also obtained from discussions with the defense counsel, Browne said.
