BlackBerry Investors Can't Recharge Claims, 2nd Circ. Says

Law360 (March 11, 2021, 8:45 PM EST) -- A Second Circuit panel refused on Thursday to revive claims by two individual investors who were axed from a proposed securities class action accusing BlackBerry Ltd. of hiding smartphone sales problems, finding that they failed to properly join in an appeal to reverse the case's dismissal.

Because Yong M. Cho and Batuhan Ulug were listed on case filings as individual additional plaintiffs separate from the rest of the class, they were disqualified from reviving their dismissed securities fraud claims against the cell phone manufacturer when they did not explicitly join in the lead plaintiffs' 2015 appeal, the circuit judges unanimously ruled....

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