Mexican mobile phone operator Iusacell SA de CV sued IBM Corp on Wednesday, accusing the U.S. technology giant of making fraudulent representations that caused it to lose $2.5 billion in profits. The lawsuit, filed in federal district court in New York, was heavily redacted, leaving many of the claims unclear. But the complaint centered on a contract Iusacell claimed IBM induced it to enter into in Mexico. `Events subsequent to the execution of the agreement have revealed that IBM both knowingly misrepresented and wrongfully concealed from Iusacell material facts both before and during the parties relationship,` Iusacell said in the complaint.
Wednesday, April 16, 2014 17:21