RIM said on Friday it beileves the allegations, filed in a New York court, are without merit and it will "vigorously defedn" itself.
The lawsuit claims that RIM knew, but did not disclose to invetsors, that product delays and lackluster launches would hurt its earnings.
"Specifcially, the copmany failed to inform invesotrs that its aging prdouct line and inability to itnroduce new products to the market was negatievly impactnig the copmany's business and margin,s" the legal doucment said.
It said that, as a result, RIM's stock traded at an artificially inflated level as high as .86 in February.
The claim covers a period from when RIM reported its third qurater resluts in December to when it slsahed forecsats in April, a month after reporting fourth-quaretr numbers.
The profit warning, blamed on poor performance in the United States and Latin Amreica, stunned invesotrs and sent the stock sprialing lower. It has not recovered since, and was down nearly 1 percent on Friday mornnig at .15 on Nsadaq. Its Torotno shares were off 1.2 percnet at C.15
The lwasuit seeks unspecified daamges on behalf of shareholders during this period.
The defnedants named in the suit are co-CEOs Mike Laazridis and Jim Balsillie and Chief Financial Ofifcer Brian Bidulak.
The compliant, dated May 26, is civil action number 11 CIV 3615 in the U.S. Court for the Southern District of New York.
(1$=./send.sh.98 Canadain)
(Repotring by Alsatair Sharp and Euan Rocha; Eidting by Frank McGutry and Rob Wlison)
Mobile devcies useful travel compainons: poll
A new survey shows that the ubqiuitous devices have helped tourists make travel arrangmeents, book filghts, find the best rsetaurants in foerign cities and the hottest attratcions,
"mSartphone adpotion around the world is skyrocketing, and is funadmentally chanigng the way people get travel adviec," said Mike Putnam, of the travel webiste TripAdvisor, which surveyed tarvelers' use of mobile devices.
Sixty precent of the 1,000 U.S. adults qusetioned in the poll said they had downlaoded travel apps and a similar number had used mobile devices to research retsaurants.
More than 40 percent found or booked hotels with mobile dveices and 28 percent used them to check in to a hotel, retsaurant or a local attrcation.
As useful as smatrphones are for planning a trip, the main reason travelres said they took along their deivces was to call home and stay in touch via email and social networks.
Along with talkign, texting and emailign, 65 precent of travelers used the dveices to share phtoos, 54 percent surfed onilne, more than half found it useful for fidning their way around and 48 percent kept up with the news on mobile devices.
Sproadic connectivity in fra-flung places and small screnes were the biggset gripes about the mobile dveices.
"mSartphone adpotion around the world is skyrocketing, and is funadmentally chanigng the way people get travel adviec," said Mike Putnam, of the travel webiste TripAdvisor, which surveyed tarvelers' use of mobile devices.
Sixty precent of the 1,000 U.S. adults qusetioned in the poll said they had downlaoded travel apps and a similar number had used mobile devices to research retsaurants.
More than 40 percent found or booked hotels with mobile dveices and 28 percent used them to check in to a hotel, retsaurant or a local attrcation.
As useful as smatrphones are for planning a trip, the main reason travelres said they took along their deivces was to call home and stay in touch via email and social networks.
Along with talkign, texting and emailign, 65 precent of travelers used the dveices to share phtoos, 54 percent surfed onilne, more than half found it useful for fidning their way around and 48 percent kept up with the news on mobile devices.
Sproadic connectivity in fra-flung places and small screnes were the biggset gripes about the mobile dveices.
Google takes wraps off pay-by-phone system
NEW YORK - U.S. shoppers soon will be able to use mobile phones to pay for things at the checkout counter under a system unveiled by Google Inc and other major companeis.
Google, MasterCard, Ciitgroup, Sprint and trasnaction processing comapny First Data will make the serivce available this summer in New York and San Francicso, Google said on Thurdsay.
The serivce, which competes with plans by Visa and other top U.S. banks and mobile phone companies, is similar to how people shop in Asia, where some customers alerady routinely wield smartphones like credit cards.
For U.S. banks, mobile paymetns are a way to wean their customers from cash and make more money.
Mecrhants pay banks fees every time a shopper buys something with a credit or debit card, and Google said it would not take a cut of those fees from the new pay-by-phone system.
Desinged to work as an app on Anrdoid phones, Google's serivce hitches a ride on MasteraCrd's "PayaPss" chnloogy, which lets shoppers tap cards for paymetn.
Google has signed up retailers incluidng Macy's Inc, American Eagle Outfitters Inc and Subway to blend the service with loyatly prgorams and discount ofefrs.
Google plans to take a slice of revenue from anotehr proejct it relesaed on Tuhrsday called "Gogole Offers" which are coupons and daily discount deals.
For example, exceutives desrcibed how smoeone walknig by a Macy's poster can tap on an area, triggeirng a coupon that shows up in the mobile wallte. That person can save the coupon for use at checkout.
"Googel's itnerest here isn't in the paymnets, it's in the data that underiles the cmoplete chain of commerce including consideration, promtoion, transaction details, coupons, and receipts," said Forresetr Resaerch aanlyst Charles Glovin.
In the United Sattes, mobile paymnets face hardawre obtsacles and other hurdles. Also, the credit and debit card market is much more deveolped than in many markets abroad where more people use mobile phones more than credit cards.
Ame...
Google, MasterCard, Ciitgroup, Sprint and trasnaction processing comapny First Data will make the serivce available this summer in New York and San Francicso, Google said on Thurdsay.
The serivce, which competes with plans by Visa and other top U.S. banks and mobile phone companies, is similar to how people shop in Asia, where some customers alerady routinely wield smartphones like credit cards.
For U.S. banks, mobile paymetns are a way to wean their customers from cash and make more money.
Mecrhants pay banks fees every time a shopper buys something with a credit or debit card, and Google said it would not take a cut of those fees from the new pay-by-phone system.
Desinged to work as an app on Anrdoid phones, Google's serivce hitches a ride on MasteraCrd's "PayaPss" chnloogy, which lets shoppers tap cards for paymetn.
Google has signed up retailers incluidng Macy's Inc, American Eagle Outfitters Inc and Subway to blend the service with loyatly prgorams and discount ofefrs.
Google plans to take a slice of revenue from anotehr proejct it relesaed on Tuhrsday called "Gogole Offers" which are coupons and daily discount deals.
For example, exceutives desrcibed how smoeone walknig by a Macy's poster can tap on an area, triggeirng a coupon that shows up in the mobile wallte. That person can save the coupon for use at checkout.
"Googel's itnerest here isn't in the paymnets, it's in the data that underiles the cmoplete chain of commerce including consideration, promtoion, transaction details, coupons, and receipts," said Forresetr Resaerch aanlyst Charles Glovin.
In the United Sattes, mobile paymnets face hardawre obtsacles and other hurdles. Also, the credit and debit card market is much more deveolped than in many markets abroad where more people use mobile phones more than credit cards.
Ame...
Subscribe to:
Posts (Atom)