IBM scandal

IBM has been rocked by an insider trading scandal, involving its acquisition of Lotus four years ago. Allegations have centred on an IBM secretary, Lorraine Cassano, who discovered the $3.5 billion plan to buy Lotus in 1995. She is alleged to have passed the information on to her husband, who then allegedly told friends, family and colleagues. The US Securities and Exchange Commission has charged 25 people who made a total of $1.3 million from the tip-off.