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Nokia Faces Class-Action Suit Over Windows Phone Deal
nk497 writes "Nokia has been hit with a class-action suit, with the claimant accusing the company of making 'false and misleading' statements about the ability of its deal with Microsoft to revive the struggling mobile maker. 'The complaint alleges that during the Class Period, defendants told investors that Nokia's conversion to a Windows platform would halt its deteriorating position in the smartphone market,' read a statement (PDF) from the law firm Robbins Geller Rudman and Dowd. 'It did not.'"
I'm going to sue for every stock I have that has lost value.
And when I'm done, I'm going to sue all the companies who didn't go up as much as I would've liked!
I'll be rich!
Historically speaking, entering any kind of business deal with Microsoft usually ends badly.
Join the Slashcott! Feb 10 thru Feb 17!
...claims another victim.
"When information is power, privacy is freedom" - Jah-Wren Ryel
Wait, what? Nokia just released their first Windows Phones in November 2011, neither were released in the United States. At some point they released the Lumia 710 in the United States, and it sold pretty well, but it was on the smallest of the big carriers: T-Mobile. Now, Nokia has added the Lumia 900 to AT&T and it is supposedly selling pretty well (I live near a Microsoft Store, and I can honestly say that the store itself has been recently more popular than the Apple Store in the mall, but that mostly has to do with location within the mall; I have also seen a lot of people walking out with new Lumia 900 phones).
Anyway, all of this is to say that you have no idea what you are talking about when you are talking about financial reporting. Two phones are not going to save a company, and at least two bad quarters were expected. Nokia is just now getting back into the swing of things, and people looking for instant success are both naive and represent what is wrong with investors in general these days.
Otherwise, Motorola Mobility going with that "Android" platform is really proving to be a sinking ship, right? Because they've had two bad quarters too.
Learn a thing or two about corporate financial reporting.
This is the cancer that is killing slashdot....
Not that I like borrowing phraseology from /b/, but it seems to be true. Half of slashdot these days is people yelling 'shill' at each other, and that's because people like those you mention are on here, being paid shills.
Marketers, brand managers, social networking managers, image managers, whatever you want to call them, can and will insert themselves into every aspect of human communication, exploit it for their own short term gain, and ruin it.
Bill Hicks came right out and told them to kill themselves. I would ask that first they look inside and ask themselves if being a professional liar is what they wanted to be when they grew up, you know, a complete scumbag that undermines faith in humanity. Because that's what they are, make no mistake, a drain on society and a waste of human flesh.
And if that doesn't wake them from their behaviour then, well, go watch some Bill Hicks.