Member access

4-Traders Homepage  >  Shares  >  Xetra  >  SAP SE    SAP   DE0007164600


SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

IBM surprised by Avantor lawsuit, calls claims exaggerated

11/10/2012 | 03:36pm US/Eastern

(Reuters) - IBM, which is being sued by chemicals manufacturer Avantor Performance Materials for fraud and breach of contract in connection with a software project, said the accusations were blown out of proportion and that it was surprised by the move.

"We believe the allegations in the complaint are exaggerated and misguided and are surprised that Avantor chose to file suit," the company said late on Friday in an emailed statement.

IBM said it had "met its contractual obligations and delivered a solution that Avantor continued to use in its operations."

Avantor, which produces chemicals and raw materials for pharmaceutical products, laboratory chemicals and chemicals used in the electronics industry, filed a lawsuit on Thursday in the U.S. District Court for the District of New Jersey.

It said it was seeking tens of million in damages from IBM, which according to the lawsuit, had misrepresented the capabilities of a software program that runs on a platform by SAP, resulting "in a near standstill" of Avantor's business.

(Reporting By Nicola Leske; Editing by Vicki Allen)

Stocks treated in this article : International Business Machines Corp., SAP AG
React to this article
Latest news on SAP SE
01/29 SAP SE : January 28, 2015SAP Survey Finds When It Comes to Engaging Customers, P..
01/29 SAP SE : Announces Marketing Gap Analysis Tool That Sets the Foundation for Cust..
01/29 BUSINESS ONE : Third Wave Business Systems Achieves SAP Accreditation for Partne..
01/29 SAP SE : Patent Issued for Systems and Methods for Providing Modular Application..
01/28 SAP SE : Patent Issued for Modification Free Cutting of Business Application Use..
01/28 SAP SE : Ariba Ranked Among World's Best Supply Chain Finance Providers
01/28 SAP SE : January 27, 2015SAP Launches Big Data Rapid-Deployment Solution powered..
01/27 Open Text revenue hit by strong US dollar, weak emerging markets
01/27 SAP SE : January 26, 2015SAP Announces Marketing Gap Analysis Tool That Sets the..
01/26DJThe Man Behind IBM's Cloud-Based Campaign
Duration : Period :
SAP SE Technical Analysis Chart | SAP | DE0007164600 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes