Reuters told that anonymous sources close to the matter said that Google Inc (NASDAQ:GOOG), Cisco Systems, Inc. (NASDAQ:CSCO) and SAP AG (ADR) (NYSE:SAP) are discussing business with BlackBerry Ltd (NASDAQ:BBRY) about acquiring some or all parts of the Canadian business.
The news service stated that Intel Corporation (NASDAQ:INTC), LG Electronics Inc. and Samsung Electronics Co are also considered as potential acquirers for this business.
These capable acquirers asked BlackBerry for expressions of interest. This is an alternate offering to the agreement that company made for $4.7 billion with Fairfax Financial Holdings Ltd (TSE:FFH).
The company is strongly reviewing its strategic alternatives to maintain its position, according to BlackBerry Ltd (NASDAQ:BBRY) spokesman.
Marvin Pearlstein, an investor, filed a case against two executives named Chief Executive Officer Thorsten Heins and Chief Financial Officer Brian Bidulka of Blackberry in federal court of Manhattan. He claimed that they gave fake and deceptive statements about the BlackBerry 10 product line Smartphone, its achievements and visions in order to inflate the company’s stock.
On Sept. 27, 2012, in a press release the company claimed the new phone have new developments. On a conference call, Heins told investors that BlackBerry has maintained its status as financially strong company and delivering on commitments and that it will hold its position as a strong, pioneering and relevant mobile company.
According to the complaint, in reality, the BlackBerry 10 did not attract customers and it leads to write down a nearly $1 billion charge related to unsold BlackBerry 10 devices and dismiss approximately 4,500 employees that accounts for 40 percent of its total staff.
He said company’s share fell 16 percent in trading in Toronto on Sept. 20.
The case is looking for those shareholders who suffered unspecified damages after buying BlackBerry common stock from Sept. 27, 2012, until Sept. 20. It is considered as misrepresentations to investors and the U.S. Securities as well as Exchange Commission about actual position of company’s operation, common stock management and future business prospects.
BlackBerry, after dropping sales and staff dismissal, is looking forward to sell its business for $4.7 billion deal with its largest shareholder, Fairfax Financial Holdings Ltd. (FFH).
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