Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor LLP announce that a federal class action lawsuit has been filed against BlackBerry Limited (“BlackBerry” or “Company”) (NasdaqGS: BBRY) and several officers and directors for acts taken during the period of September 27, 2012 to September 20, 2013 (the “Class Period”).
Based upon the allegations in the class action, the firms are investigating additional legal claims against the officers and Board of Directors of BlackBerry. If you are an affected BlackBerry shareholder and want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Zach Groover at Powers Taylor LLP, toll free (877) 728-9607, or via email at email@example.com. There is no cost or fee to you.
In the complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges that defendants’ misrepresented and/or failed to disclose that despite the positive statements regarding the Company’s financial strength and new BlackBerry 10 smart phones, BlackBerry was not on its way to recovery and re-emerging as a lead player in the wireless communications industry. Thus, when the Company publicly announced its true standing, which included incurring massive charges due to unsold BlackBerry 10 devices and a 40% lay-off, BlackBerry shares dropped substantially.
The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.