A federal judge has refused to dismiss a massive RICO suit against four high-level IBM executives who are accused of swindling a King of Prussia, Pennsylvania, firm into investing $12 million in technology projects by hiding the truth about their market potential and continuing to solicit funds even after one of the projects had been canceled.
In his 32-page opinion in Devon IT Inc. v. IBM Corp. , Federal District Judge Joel Slomsky dismissed a claim against IBM for aiding and abetting the RICO conspiracy, but refused to dismiss claims against IBM for fraud, breach of contract and negligent supervision.
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