International Business Machines Corp. and its executives won dismissal of lawsuits claiming that a 17 percent drop in the company’s stock price implicated federal securities laws and caused workers to lose retirement savings in violation of ERISA (Jander v. Int’l Bus. Machs. Corp., 2016 BL 291159, S.D.N.Y., No. 1:15-cv-03781-WHP, 9/6/16 and Int’l Assoc. of Heat & Frost Insulators & Asbestos Workers Local #6 Pension Fund v. Int’l Bus. Machs. Corp., S.D.N.Y., No. 1:15-cv-02492-WHP, 9/7/16).

A federal judge in simultaneous orders Sept. 7 dismissed separate lawsuits challenging the IBM stock drop under both the Employee Retirement...