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Posts: 361 | Thanked: 219 times | Joined on Sep 2010
#1108
Originally Posted by cBeam View Post
Good news of the day: Nokia's shares stabilized today, the stocks did not decline any further.

(Rumors say that the fact that the stock exchanges were closed today, Saturday, were a major contributing factor)
Maybe it will go on tomorrow:
"ROBBINS GELLER RUDMAN & DOWD LLP FILES CLASS
ACTION SUIT AGAINST NOKIA CORPORATION
...
The complaint alleges that during the Class Period, defendants told investors that Nokia’s conversion to a Windows platform would halt its deteriorating position in the smartphone market. It did not. This became apparent on April 11, 2012, when Nokia disclosed that its first quarter performance would be worse than expected. Nokia expected its first quarter 2012 non-IFRS Devices & Services operating margin to fall by 3%, and projected first quarter 2012 Devices & Services net sales of €4.2 billion. It also disclosed a glitch in its newest Windows offering – the Lumia 900. Nokia had to immediately offer customers an automatic $100, making the phone essentially free.

As a result of this disclosure, the price of Nokia’s American Depositary Shares (“ADRs”) dropped over 16% in a single day.
..."
http://www.rgrdlaw.com/cases-nokiacorp.html

Let's see how big this lawsuit will get.

Btw. look at what Failop blames this time:
"Nokia's CEO Says Carriers Hate Skype, And Its Affecting Windows Phone Sales"
http://www.businessinsider.com/nokia...e-sales-2012-5

ROTFL

Last edited by PMaff; 2012-05-06 at 20:57.