BlackBerry Must Go Through Revived US Court Case Related To Blackberry 10
A US judge this week refused the request of BlackBerry Ltd to dismiss a court case stating it defrauded shareholders and exaggerated its stock price by painting a untruthfully positive image of sales forecast for its BlackBerry 10 handsets.
While a previous version of the lawsuit was turned down in March 2015, the US District Court’s Chief Judge Colleen McMahon in Manhattan claimed that the projected class action can now proceed. She claimed that new data about supposed conduct of BlackBerry had emerged at the time of the criminal hearing of an official at a retailer that traded its handsets.
The judge also mentioned a new lawful measure accepted by the Supreme Court of the U.S. that can make it simpler for some applicants to verify that opinion statements might be deceptive. Other defendants comprise Brian Bidulka (former Chief Financial Officer), Thorsten Heins (former Chief Executive), and Steve Zipperstein (Chief Legal Officer).
Sarah McKinney BlackBerry spokeswoman, refused to answer to the media for an interview. A legal representative for the defendants did not straight away answered to the questions asked by the media.
The BlackBerry 10 won optimistic reviews from users, but never had a chance to get to the hand of the public, which preferred Apple Inc’s iPhone and Android-supported handsets. In 2016, BlackBerry made a decision to stop producing its own handsets. Shareholders had blamed BlackBerry of hiding true sales prospects of BlackBerry 10 in during 2013 public statements.
After almost vanishing form the smartphone industry, the former smartphone giant Blackberry recently posted one more loss. Shockingly, the loss reflected a steep falls in the turnover. This was due to the decrease in the handset sale and service fees. The main reason to blame this situation is the poor and extinct software.