As if RIM doesn’t have enough problems at the moment, it has a new one. A class action lawsuit has been filed against RIM claiming that the company misled investors regarding its financial condition and business prospects. It sounds like someone lost some cash in the market and now wants to get paid:
The Waterloo, Ont.-based maker of the BlackBerry smart phone and PlayBook tablet device said the suit claims RIM’s leadership made materially false and misleading statements about its financial condition and business prospects.
The suit the claims investors were misled over about a four-month period between Dec. 16 and April 28.
To add to the fun, RIM came out with a press release saying all you need to know in one sentence:
RIM believes that the allegations are without merit.
Oh really? We’ll see when this goes to court.
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This entry was posted on May 29, 2011 at 8:42 pm and is filed under Commentary with tags Lawsuit, RIM. You can follow any responses to this entry through the RSS 2.0 feed
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RIM Gets Slapped With Class Action Lawsuit
As if RIM doesn’t have enough problems at the moment, it has a new one. A class action lawsuit has been filed against RIM claiming that the company misled investors regarding its financial condition and business prospects. It sounds like someone lost some cash in the market and now wants to get paid:
The Waterloo, Ont.-based maker of the BlackBerry smart phone and PlayBook tablet device said the suit claims RIM’s leadership made materially false and misleading statements about its financial condition and business prospects.
The suit the claims investors were misled over about a four-month period between Dec. 16 and April 28.
To add to the fun, RIM came out with a press release saying all you need to know in one sentence:
RIM believes that the allegations are without merit.
Oh really? We’ll see when this goes to court.
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Like this:
This entry was posted on May 29, 2011 at 8:42 pm and is filed under Commentary with tags Lawsuit, RIM. You can follow any responses to this entry through the RSS 2.0 feed You can leave a response, or trackback from your own site.