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Schatz & Nobel, P.C. Announces Class Action Lawsuit Against International Business Machines Corporation

HARTFORD, Conn., July 11 /PRNewswire/ -- The law firm of Schatz & Nobel, P.C., which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Southern District of New York on behalf of all persons who purchased the common stock of International Business Machines Corporation (NYSE:IBM) ("IBM") between April 5, 2005 and April 15, 2005 (the "Class Period").

Schatz & Nobel, P.C. also has substantial experience representing employees who lost substantial amounts from purchases of their employer's stock in their 401 (k) plans. If you bought IBM stock through your IBM retirement account and have information or would like to learn more about these claims, please contact us.

The Complaint alleges that IBM violated federal securities laws in regard to public statements it made prior to the official announcement of its first quarter, 2005 financial results. Specifically, IBM held an analyst conference call on April 5, 2005 during which (the Complaint alleges) IBM misrepresented the nature of an anticipated earnings miss. The Complaint alleges that IBM wrongly blamed the expected shortfall on the implementation of SFAS 123R (options expensing) rather than properly disclosing its significant and material operations problems. On April 14, 2005, IBM officially reported first quarter 2005 financial results that were even lower than it had revealed on April 5 and it further disclosed that this earnings miss was significantly attributable to problems with operations, rather than wholly attributable to the implementation of SFAS 123R.

If you are a member of the class, you may, no later than September 6, 2005, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members, including decisions concerning settlement. The securities laws require the Court to consider the class member(s) with the largest financial interest as presumptively the most adequate lead plaintiff(s).

For more information about the case, its claims, and your rights, please contact Schatz & Nobel toll-free at (800) 797-5499, or by e-mail at sn06106@aol.com. To view a copy of the Complaint initiating the class action, which was not filed by Schatz & Nobel, or for more information about this case, class action cases in general, or Schatz & Nobel, please visit our website: http://www.snlaw.net/.

CONTACT:
Wayne T. Boulton or Nancy A. Kulesa
Tel.: (800) 797-5499
Website: http://www.snlaw.net/
e-mail: sn06106@aol.com

Source: Schatz & Nobel, P.C.

CONTACT: Wayne T. Boulton or Nancy A. Kulesa of Schatz & Nobel, P.C.,
+1-800-797-5499, sn06106@aol.com

Web site: http://www.snlaw.net/