Research In Motion Sued Over Alleged Stock Inflation

Law360, New York (August 9, 2011, 5:23 PM EDT) -- Research in Motion Ltd. shareholders filed a putative class action in New York on Friday against the maker of BlackBerry smartphones, accusing the company's directors of failing to tell investors about its aging product line and artificially inflating RIM's stock value.

RIM shareholders allege that the company's executives issued false and misleading statements about RIM's financial and business prospects. When the truth was revealed, RIM's stock price plunged 60 percent, according to the shareholders.

"The company failed to inform investors that its aging product line and...
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Case Title

McNeal et al v. Research In Motion Limited et al


Case Number

1:11-cv-05472

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Richard J. Sullivan

Date Filed

August 5, 2011

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