Member access

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

SAP SE (SAP)

182
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
9h ago SAP SE : Offers Retailers a Jump Start to the Cloud Powered by Rapid Deployment ..
11h ago SAP SE : Patent Issued for Access to Context Information in a Heterogeneous Appl..
12h ago SAP SE : Certifies Dolphin Content Archive Service for Cloud 3.0
1d ago ORACLE : Governor appoints new Marin Superior Court judge
1d ago SAP SE : Patent Issued for Pattern Recognition of a Distribution Function
1d ago SAP SE : Symmetry Launches SAP HANA on Symmetry Cloud Solution
1d ago SAP SE : December 17, 2014Reduced Cost of Operation and Simpler Customization: S..
3d ago SAP SE : Sybase Assigned Patent
6d ago ORACLE : Governor appoints new Marin Superior Court judge
6d ago SAP SE : December 12, 2014SAP Ranked a Leader in the Analytics Market by Nucleus..
Advertisement
Chart
Duration : Period :
SAP SE Technical Analysis Chart | SAP | DE0007164600 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF