BlackBerry will pay $165M to settle lawsuit over BlackBerry 10 smartphone
The class action lawsuit, Pearlstein v. Blackberry Ltd. et al., was filed in a U.S. court in 2013.
It alleged that the company made a series of materially false and misleading statements and omissions concerning its now discontinued BlackBerry 10 smartphones that inflated the price of BlackBerry’s stock.The company, which now focuses on security software and services to enterprises and governments, says the settlement was reached following a voluntary mediation process.
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