Investors File Class Action Suit Against Nokia
A New York law firm filed a class action lawsuit against Nokia this week, alleging that the company's executives violated the Securities Exchange Act. The complaint reads, in part: "Defendants told investors that Nokia’s conversion to a Windows platform would halt its deteriorating position in the smartphone market. It did not. This became apparent on April 11, 2012, when Nokia disclosed that its first quarter performance would be worse than expected. It also disclosed a glitch in its newest Windows offering – the Lumia 900. Nokia had to immediately offer customers an automatic $100, making the phone essentially free. As a result of this disclosure, the price of Nokia’s American Depositary Shares (“ADRs”) dropped over 16% in a single day." The lawsuit seeks to recover damages (i.e., financial loses) endured by Nokia stockholders. Nokia is in the middle of transitioning from Symbian to Windows Phone. The Lumia 900 and Lumia 710 are its first Windows Phone devices available to U.S. buyers.
Sprint to Sell Nokia Lumia 635
Sprint today said fans of Windows Phone will soon have the option to buy the Lumia 635 through several different Sprint brands. Boost Mobile and Virgin Mobile USA will begin selling the Lumia 635 online on Dec.
Microsoft Announces the Lumia 640
Microsoft today announced the Lumia 640, a new Windows Phone. It has colorful and interchangeable rear shells.
Lumia 430 Most Affordable Windows Phone Yet
Microsoft today announced the Lumia 430, an entry-level smartphone that will be among those updated to Windows 10. The Lumia 430 features a 4-inch WVGA screen; 1.2GHz Snapdragon 200 processor with 1GB of RAM and 8GB of storage; 2-megapixel main camera and VGA user-facing camera; and 1,500mAh battery.
BlackBerry Sues Nokia Over Patents
BlackBerry filed a patent infringement lawsuit against Nokia this week. BlackBerry claims Nokia is using its patented technology in select telecommunications equipment that Nokia sells to network operators, such as T-Mobile, without the proper licenses.
LAWYER TROLLING: THEY DON'T HAVE A LEAD PLAINTIFF
The press release on their website includes a solicitation for someone to be the lead plaintiff. Ergo, they haven't already got one.
So their own press release makes it look like they are inventing this BS case, fishing for at least a single plaintiff, probably just hoping to collect their fees for processing this nonsense.
it seems like every freaking idiots can be a lawyer!
Just Fire Nokia's CEO Stephen Elop
"making the phone essentially free"
I'm not sure I get this
stupid losers should just stay out of the stock markets!