Nokia's Stock Not Bad Investment For Workers, Judge Says

Law360, New York (October 16, 2013, 1:20 PM EDT) -- A class of Nokia Inc. workers who say the company shouldn't have encouraged them to invest in the struggling phone maker haven't shown that its stock was an imprudent investment, a California federal judge ruled Tuesday.

U.S. District Judge Phyllis J. Hamilton rejected the workers' arguments that the Finnish company and its executives shouldn't have allowed the retirement plan to invest in its stock as rising competition from Google Inc.'s Android and Apple Inc.'s iPhone hammered Nokia's mobile phone business and share price.

But the plaintiffs...
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