Nokia Sued

[ejb222]

How bad will this be?

Robbins Geller Rudman & Dowd LLP Files Class Action Suit Against Nokia Corporation - Yahoo! Finance

 

[theefman]

Sounds like a bogus suit, from what I read. Nokia made projections based on assumptions, markets changed, Nokia didnt meet expectations. Happens to all tech companies (ask HTC) and there was no malice or intentional deception with their predictions so whats the basis for this suit (apart from being Symbian fanboys )?

 

[thed]

I don't understand this at all. These people are basically suing themselves, aren't they? Unless they already dumped their stock, which makes it seem like sour grapes. Next time do a little research before you invest in a company.

 

[mprice86]

Seems like they bought stock on the basis that a company the size of Nokia could change their fortunes inside a single business quarter which is like trying to turn a cruise ship on a dime.

It is odd though, seeing as the quotation that the people filing the suit are using is that "Nokia’s conversion to a Windows platform would halt its deteriorating position in the smartphone market. There's no deadline given for the turn around.

The whole thing wreaks of people who made a bad call trying to make a quick buck and now they're all butt hurt because they were wrong.