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RIM Being Investigated for Securities Fraud

May 23, 2011, 2:52 PM by Eric M. Zeman
updated May 23, 2011, 7:07 PM

A law firm today announced that it is investigating statements made by Research In Motion between December 16, 2010 and April 28, 2011 that it believes may have misled investors. The firm of Holzer Holzer & Fistel allege that RIM made "materially false and misleading" statements regarding its operations, and also that RIM "knew but failed to adequately disclose that it was experiencing problems associated with an aging product line which were negatively impacting RIM’s business and margins." The law firm is attempting to determine if RIM defrauded investors. RIM's line of BlackBerry devices has not been significantly since 2010.

Reuters »

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Comments

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This forum is closed.

Xyroze

May 23, 2011, 3:09 PM

Who did they think they were fooling?

The steady decline of Blackberry's hold on the smartphone market has been pretty obvious to anyone who has worked with the cellular industry at all over the last couple years now. Did they seriously think no one would expect this to affect them financially?

netboy

i havnt used a nokia for over 10 years. that should tell you something!

...

mangobeach

A lot of Financial corporations use them, so they can monitor information(emails) coming in/out of their networks. As slow as their browsers are, they do have the most secure system out there. This is with the BES server of course.

Mikey C

May 23, 2011, 3:23 PM

Typo

The law firm is attempting to determine fi RIM defrauded investors

That is all.

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