Thread: Press Release: RIM Says Purported Class Action Lawsuit is Without Merit

RIM fires back today in a press release on a class action lawsuit against them. The lawsuit alleges that during the period from December 16, 2010 through April 28, 2011, that RIM and certain of its officers made materially false and misleading statements regarding the Company’s financial condition and business prospect. See full press release below:

Waterloo, ON - Research In Motion Limited ("RIM") (Nasdaq: RIMM; TSX: RIM) today confirmed it intends to vigorously defend against a purported class action lawsuit filed against the Company and certain of its officers in the United States District Court for the Southern District of New York. The lawsuit alleges that during the period from December 16, 2010 through April 28, 2011, the Company and certain of its officers made materially false and misleading statements regarding the Company’s financial condition and business prospects, and seeks unspecified damages on behalf of an alleged class of purchasers of the Company’s common shares during this period. RIM believes that the allegations are without merit.

This could get deep.

Originally Posted by ghostryder12

This could get deep.

Like deep-ocean deep :bigeyes:

Originally Posted by sabisgeek

Like deep-ocean deep :bigeyes:

Like deep court case deep.

Originally Posted by ghostryder12

Like deep court case deep.

Like...um...

Looks like I'm washed up

This happens all the time.