Hagens Berman is investigating potential U.S. securities-law violations by blue chip company International Business Machines Corporation (IBM) after CEO Arvind Krishna previewed weak second-quarter 2026 results on July 14, 2026. IBM shares fell 25% in one day, erasing more than $68 billion in market capitalization. The investigation focuses on the propriety of IBM's statements about IBM Z, a family of enterprise mainframe computers, and related software. IBM had promoted the z17 since early April 2025 and reported strong first-quarter 2026 growth on April 22, including 51% growth in IBM Z revenue. Management had expressed confidence in more than 5% constant-currency revenue growth for 2026, but later reported total revenue growth of 1% and a 7% decline in Infrastructure revenue. CEO Arvind Krishna attributed the shortfall to weaker IBM Z performance, problems in the associated software stack, customer capital-expenditure reprioritization and large deals that failed to close. Hagens Berman partner Reed Kathrein said the firm is examining whether IBM had earlier information suggesting those deals were unlikely to close on time. The firm is seeking information from investors with substantial losses and potential whistleblowers, who may qualify for rewards of up to 30% of a successful recovery under the SEC (U.S. securities regulator) Whistleblower program.