Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Blackberry Limited (“Blackberry” or the “Company”) (Nasdaq: BBRY) common stock between September 27, 2012 and September 20, 2013.
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The complaint alleges that the Company made materially false and misleading statements and/or failed to disclose material information regarding the Company’s business and operations. In particular, it is alleged that Blackberry failed to disclose that, contrary to Company statements that the Blackberry 10 line of smart phones financially strengthened Blackberry and positioned the Company on the road to recovery, in fact the Company’s business, operations and financial situation was worsened by the BlackBerry 10 platform.
On September 20, 2013, BlackBerry announced it incurred a substantial charge due to unsold BlackBerry 10 devices, and that the Company was forced to lay off approximately 40% of its workforce. Upon this news, shares of BlackBerry fell from a close of $10.52 per share on September 19, to a close of $8.73 per share the following day.
If you suffered a loss in Blackberry you have until December 3, 2013 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at
or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.