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BlackBerry plans to settle lawsuit over BlackBerry 10, avoid US trial

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NEW YORK :BlackBerry Ltd plans to settle a more than eight-year-old lawsuit claiming it defrauded shareholders by inflating the success and profitability of its long-discontinued BlackBerry 10 smartphones.In a Wednesday filing with the U.S. District Court in Manhattan, lawyers for BlackBerry and the sharehold

NEW YORK :BlackBerry Ltd plans to settle a more than eight-year-old lawsuit claiming it defrauded shareholders by inflating the success and profitability of its long-discontinued BlackBerry 10 smartphones.

Lawyers for the shareholders did not immediately respond to requests for additional comment. BlackBerry and its law firm did not immediately respond to similar requests. Shareholders accused BlackBerry of concealing BlackBerry 10's true sales prospects in public statements during 2013, resulting in an inflated share price.

 

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BlackBerry plans to settle shareholder lawsuit over BlackBerry 10, avoiding trialNEW YORK : BlackBerry Ltd plans to negotiate a settlement of an eight-year-old lawsuit claiming it defrauded shareholders by overstating demand for its BlackBerry 10.In a Wednesday filing with the U.S. District Court in Manhattan, lawyers for BlackBerry and the shareholders asked the presiding judge to ad
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