Shareholders Slap Motorola With Fraud Action

Law360, New York (January 22, 2010, 5:12 PM EST) -- Shareholders have launched a putative class action accusing Motorola Inc. of making false statements about the company's financial health — including concealing flagging sales for its once-popular Razr cell phone — that caused Motorola's stock to plummet.

The St. Lucie County Fire District Firefighters' Pension Trust Fund filed suit Thursday in the U.S. District Court for the Northern District of Illinois on behalf of all purchasers of Motorola common stock between Dec. 6, 2007, and Jan. 22, 2008.

Motorola and several of its current and former...
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