A US judge has allowed a class action lawsuit alleging that BlackBerry Ltd. has deceived investors by misleading them about the success of the BB10 device.
New York judge Colleen McMahon ruled this week that a proceeding was filed against Waterloo, Ontario. Technology companies from BlackBerry common stock buyers could probably be brought to justice in September or October.
Plaintiffs’ chiefs Todd Cox and Mary Dinzik filed a class action proceeding in 2013, alleging that BlackBerry issued a “rosy” public statement concealing the “much rosy truth” about its products. ..
Plaintiffs further claim that BlackBerry prematurely recognized the revenue of the BB10 device in order to continue to inflate its inventory.
BlackBerry denied some of the plaintiffs’ allegations, claiming that the plaintiffs did not raise factual judicial issues during the proceedings covered, and demanded that they be dismissed.
McMahon has thrown some of the plaintiffs’ allegations because of the length of time it has passed since shareholders opposed them, but found that “the real problem of important facts” was controversial. So you can proceed with other claims.
This report by Canadian Press was first published on January 4, 2022.
Company of this story: (TSX: BB)
Class action proceedings accusing BlackBerry of misleading investors and bringing them to trial
Source link Class action proceedings accusing BlackBerry of misleading investors and bringing them to trial