Industry news: BlackBerry Investors Have December 3 Deadline to move Court

Too Many Blackberrys

Blackberrys (Photo credit: Ninja M.)

Investors of BlackBerry have until December 3 to move the Court to serve as lead plaintiff in the securities fraud class action lawsuit filed in the United States District Court for the Southern District of New York on behalf of a class comprising all purchasers of BlackBerry common stock between September 27, 2012 and September 20, 2013, inclusive. The Complaint alleges that defendants issued materially false and misleading statements concerning BlackBerry’s business and operations. Specifically, the Company failed to inform investors that – contrary to its statements touting the Company’s financial strength and new BlackBerry 10 smart phones – the Company was not on the road to recovery and re-emerging as a lead player in the wireless communications industry.

BlackBerry Limited engages in the design, manufacture and marketing of wireless platforms and solutions for access to email, voice, instant messaging, short message service, Internet and Intranet-based applications, and browsing through the development of integrated hardware, software, and service.

 

From: Howard G Smith

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