BlackBerry Ltd (NASDAQ:BBRY) which has recently closed many of its lawsuits which are the heavy bundle to the company’s operating cost as well as hurdle between the privatization. But this is not an end as Howard G. Smith’s Law Offices declare that it will look into possible claims on behalf of the company’s investors regarding potential breaching of federal securities laws.
The investigations are carried out after the trouble smartphone maker has issued misleading or false statements from 27, September 2012 to 20 September 2013, regarding its business, financial prospects and operations.
The law firm also noted that the inquiry is associated to claims that the smartphone maker failed to update investors that the firm was not on its way to re-emerge and recover as a top company in the wireless communications sector, dissimilar to its reports touting the BlackBerry Ltd (NASDAQ:BBRY)’s new BlackBerry 10 devices and financial strength.
The firm has also call all those investors of the trouble smartphone maker to contact them in case of any information they have, or interests in these matters, or any other concern or query on the matter are all welcomed by them.
While Morgan & Morgan has also declared that class actions have been filed against the smartphone maker in the US District Court for the Southern District of NY on behalf of all its shareholders for the period same Period, as well as same allegation are claim din the lawsuit as well.
The lawsuit said all those investors who bought the company during the Class Period, are request that the Court choose them lead plaintiff, which is a representative party that take action from the side of other class members in unswerving the lawsuit.
On 20 September, the troubled smartphone maker disclosed that it would gain huge charges because of unsold BlackBerry 10 inventory. And due to huge losses it is planning for huge lay off of approximately 40% of its staff during 2013. BlackBerry Ltd shares decreased -1.59% to $8.07 in last trading session.
Leave a Reply