Nokia Faces Another Lawsuit, Accused of Exaggerating Lumia's Impact to Mislead the Market
The Finnish mobile phone giant Nokia, which is already in a difficult situation, has once again received bad news. A shareholder named Robert Chmielinski has filed a class-action lawsuit in court, directly targeting Nokia and its senior management. Nokia's CEO Stephen Elop and CFO Timo Ihamuotila are also among those being sued. Chmielinski believes that Nokia and its executives made false statements between October 2011 and April 2012 regarding Lumia's strong sales being able to help the company turn its troubles around. They allegedly defrauded and misled shareholders because the shift to supporting the Windows Phone platform did not help Nokia stop its decline in the smartphone market, ultimately causing thousands of Nokia shareholders to suffer significant financial losses. Chmielinski cited statements made by Nokia in press releases and conference calls to support his lawsuit. In less than five years, the value of Nokia shares held by investors has dropped by about 90%, and the outlook is not optimistic. Recently, Nokia filed lawsuits in the United States and Germany against competitors HTC, RIM, and ViewSonic for infringing 45 of its patents. The company also plans to launch new tablets and 'hybrid' smartphones this year to regain its former glory. Written by Sohu IT (Source: cnbeta) Hehe. Do I look like Huangfu?
