Bank of America Gets the Most Complaints and 2 Hot Stocks to Watch

| + More Articles
  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

BlackBerry (NASDAQ:BBRY): A U.S. shareholder lawsuit that accused the company of seeking to fraudulently obscure its falling market position was dismissed, Reuters reports. U.S. District Judge Richard Sullivan in Manhattan granted the company’s motion to dismiss the proposed class action lawsuit, as he believes that the plaintiffs did not adequately allege that the company or various executives made deliberate and material misstatements. According to Sullivan, BlackBerry clearly failed to keep pace with its rivals in developing smartphones and information technology, and he adds that the defendants “have paid a price for their mistakes by way of demotions, terminations and sizable financial setbacks.”

NEW! Discover a new stock idea each week for less than the cost of 1 trade. CLICK HERE for your Weekly Stock Cheat Sheets NOW!

BBRY

More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business