RIM Investor Says False Remarks Inflated Shares

Law360, New York (May 26, 2011, 10:01 PM EDT) -- BlackBerry maker Research In Motion Ltd. on Thursday was hit with a shareholder class action in New York for allegedly hiding the company's financial condition, which took a hit after product delays and a failure to put new devices on the market fast enough.

Shareholder Mary T. Stabile accused the Canadian mobile company of failing to tell investors that the company was hurting from its aging product line, delays on new devices and lackluster product launches.

Absent the disclosures, RIM's stock price was traded at artificially...
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