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 that Iusacell said 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.
Iusacell is co-owned by television and retail mogul Ricardo Salinas' Grupo Salinas and broadcast and pay TV giant Grupo Televisa.
President Volodymyr Zelensky announced he expects to hold “key conversations” on Monday to formulate a strategy...
Spain winning the World Cup just feels right.That opener against Cape Verde aside, they were the...
President Donald Trump was hit with some pretty loud boos for the second time in a...
The European Union could be leaning toward banning trade with Israeli settlements in the West Bank.Foreign...
