Tag: class action lawsuit

RIM Officially Responds to Class Action Lawsuit Saying It’s “Without Merit”

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A class action lawsuit was filed not too long ago against RIM claiming that the company misled investors regarding its financial condition and business prospects. We’re not sure exactly what’s going on here or what the law says about these investments, but it seems like the recent stock plunge has something to do with it. Chances are that an investment firm has lost a lot of money in RIM stock and is looking to mitigate that loss with a lawsuit payback. What investors should be doing is not reacting so emotionally to the market. Smartphone sales are up globally and RIM is well positioned to accommodate this growth. So Relax.
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