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BlackBerry targeted by class action in the United States


New York Judge Colleen McMahon this week ruled that the case against the Waterloo, Ont. Company by BlackBerry common stock holders is subject to trial, which is likely to proceed. in September or October.

The main plaintiffs, Todd Cox and Mary Dinzik, filed the class action in 2013, claiming that BlackBerry had made public statements roses who hid a much less rosy truth about their products.

The plaintiffs further allege that BlackBerry prematurely recognized revenue for BB10 devices in order to maintain its inflated share value.

BlackBerry has denied several of the complainants’ allegations and called for their dismissal. The company alleged that the complainants did not raise any issues of fact that could be tried during the period covered by the case.

The McMahon dismissed several of the plaintiffs’ allegations due to the time that had elapsed since shareholders raised them, but found that real questions of important facts remained in dispute, so that other claims could move forward.

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