Member access

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

SAP SE (SAP)

SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll 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
Latest news on SAP SE
3h ago SAP SE : October 22, 2014SAP and EIU Study Reveals Lack of Data and Robust Analy..
3h ago Duke Athletics Chooses SAP HANA Platform and NTT DATA to Turbocharge Fan Enga..
3h ago SAP SE : Gives Customers a Simpler Choice and a Clear Path to Adopt HANA
4h ago Virtustream Announces Partnership with Infosys, NetApp and Cisco to Deliver A..
9h ago SAP SE : Asclepius Chooses Fieldglass
1d ago SAP SE : October 21, 2014Duke Athletics Chooses SAP HANA Platform and NTT DATA t..
1d ago SAP SE : October 21, 2014SAP Gives Customers a Simpler Choice and a Clear Path t..
1d ago SAP SE : October 21, 2014New SAP HANA Capabilities Deliver Innovation in the Clo..
1d ago SAP SE : and Ariba Transform Procurement in Middle East
1d ago SAP Fuels New Model for Customer Engagement at Leading Companies Around the W..
Advertisement
Chart
Duration : Period :
SAP SE Technical Analysis Chart | SAP | DE0007164600 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF