An angry shareholder has filed a class action lawsuit against BlackBerry, claiming that the company misled its investors about the future.
The suit will represent all shareholders who purchased BlackBerry stock between September 27th, 2012 and September 20th, 2013.
In the suit, shareholder Marvin Pearlstein alleges that 'executives misrepresented the state of BlackBerry's operations, ... [ read the full article ]
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This lawsuit is so full of it: they took a gamble hoping to gain when Blackberry's stock was at an all time low after they announced BB10, and then loss that gamble when it flopped. There was no misleading unless it came from stock advisers. Anyone with a brain should have known there was high risk purchasing stock back then, as anyone with a brain should have also known to sell out at 17 a share.
Investing in ANY stock is always a risk. There are no guarantees - ever.
Blackberry was optimistic about BB10. After many years of development and millions of dollars spent they should be. No company is going to say, "We have a new product coming out and it's going to suck". Unfortunately the public didn't respond as expected. The board of directors at BB don't have a crystal ball.
Sorry investors. You gambled and lost. Suck it up and learn from your mistake.
Originally posted by aw2600: Investing in ANY stock is always a risk. There are no guarantees - ever.
Blackberry was optimistic about BB10. After many years of development and millions of dollars spent they should be. No company is going to say, "We have a new product coming out and it's going to suck". Unfortunately the public didn't respond as expected. The board of directors at BB don't have a crystal ball.
Sorry investors. You gambled and lost. Suck it up and learn from your mistake.
Doesn't work like that!!!!!!!!!!
Investors often get misrepresented about a company's future predictions/outcome. It's dishonest and misleading. This is not surprising and they will likely win so PIPE DOWN with your "You gambled and lost" (as if they bought stock through ScottTrade online)
Originally posted by hearme0: Doesn't work like that!!!!!!!!!!
Investors often get misrepresented about a company's future predictions/outcome. It's dishonest and misleading. This is not surprising and they will likely win so PIPE DOWN with your "You gambled and lost" (as if they bought stock through ScottTrade online)
I don't think Blackberry misrepresented themselves. BB10 is a very good product. They had every right to predict that it would do well. It's the public's reaction that was the factor here. Nobody could predict that.
With the exception of bonds and guaranteed investments there is always a risk. Read the fine print on a prospectus. There is no guarantee of performance.
Originally posted by aw2600: Investing in ANY stock is always a risk. There are no guarantees - ever.
Blackberry was optimistic about BB10. After many years of development and millions of dollars spent they should be. No company is going to say, "We have a new product coming out and it's going to suck". Unfortunately the public didn't respond as expected. The board of directors at BB don't have a crystal ball.
Sorry investors. You gambled and lost. Suck it up and learn from your mistake.
Doesn't work like that!!!!!!!!!!
Investors often get misrepresented about a company's future predictions/outcome. It's dishonest and misleading. This is not surprising and they will likely win so PIPE DOWN with your "You gambled and lost" (as if they bought stock through ScottTrade online)
well he bought the stock, blackberry had a positive outlook and hyped themselves for the new product... and well ultimately he and all other share holders lost money, Unless there is a guarantee on returns signed in stone, It's pretty much a gamble no matter how you look at it.
I'm not saying hes wrong or right, I think some companies are better at their sales pitch than others.
Blackberry quite blatantly misrepresented the situation for a long time hoping that the BB10 etc would rescue them - after their disastrous email outages of 2011-2012 the writing was on the wall!!!
Good luck to the wee man i hope he sues their rich asses off!
