[Dirkmyer]

Honestly I don't think the lawsuit will stand. I haven't read too much into it, but from what I see the lawsuit is suggesting that management mislead shareholders to thinking BB10 was a good thing.

To the best of my knowledge, everyone thought bb10 was a great thing. I don't think they planned for it to fail, and I definitely don't think that they are worse off with it. If they had to continue with BBOS they would be much worse off...

Now WRT the LG rumour.. I think that if it is true it would be the best option for Bbry.. they will continue to operate as they are now, albeit no longer Canadian (right? ??) but bb10 would be integrated into their whole product line.. it could be the injection that they need to springboard their whole mobile computing. Imagine all of LGs appliances taking with one another using bb10/Qnx.

I will be sad about a sale of the company, but i honestly think that they are no longer able to sustain the business with just their smartphones/BES business. At the very least they need to partner with a bigger company to really get qnx/bb10 out there..

Posted via CB10

[Dzyen]

Whether it proceeds or doesn't, in my opinion, negative press is negative press. Sure the lawsuit doesn't go through, but the negativity surrounding the company is still indirectly impacted.

I think in a time like this BlackBerry can't really afford any more kicks to the face. This is pretty much the beginning of the end. /:

[KermEd]

Meh. If it isn't signed on paper, it's little more than reading the inquirer.

I keep waiting for CrackBerry to announce Batboy sighted using BlackBerry 10, causes users to abandon platform..

Posted via CB from my LE

[Bacon Munchers]

If that happens, I suspect it would case an avalanche effect, as I held stock prior to the claimant, however, it could be speculated that similar mismanagement took place during that time too.

I'll be surprised if much, if anything, comes out of it.

Besides, what will they sue for if a large bid comes out of the new possible suitors in the news?

[SEAWARRIOR]

If that happens, I suspect it would case an avalanche effect, as I held stock prior to the claimant, however, it could be speculated that similar mismanagement took place during that time too.

I'll be surprised if much, if anything, comes out of it.

Besides, what will they sue for if a large bid comes out of the new possible suitors in the news?

maybe this was leaked to scare 'em off,,, tomorrows' headline = " In Light Of Recent Events, All Prospective Blackberry Suitors Bail; Except Fairfax"

[bobauckland]

While I generally dislike lawsuits, I really hope this opens a floodgate of lawsuits against BlackBerry management.
They have lied, deceived, and cheated consumers and investors out of huge amounts of money.
The impact it has had on people is devastating.
Employees are fired in droves because the management failed, all those families are affected.
And the worst culprits, the liars, the thieves, they're trying to make off with huge amounts of money.

I really hope they get done by these lawsuits, nailed right to the wall.
The company and majority of employees don't deserve what's happened over the recent past.
The people responsible should be held accountable.

[der_mit]

Your posts are becoming more ridiculous every time you post.

Posted via CB10

[bobauckland]

Your posts are becoming more ridiculous every time you post.

Posted via CB10

If you don't quote people when you make a post like you did, it looks like you're talking to yourself.
Don't put yourself down!

[der_mit]

See what I mean.

Posted via CB10

[exiledcanadian]

When buying stock, disclaimers, is essence, tell you this: "You are gambling. Even if it was worth a lot in the past, it doesn't mean it will get back there. Good luck. This is all on you."

Unless they cooked the books, the lawsuit has no grounds. They reported their audited quarterly numbers and, under SEC rules, that's all they are legally obliged to do. They have no debt to creditors so they have no reason to manipulate the numbers (like Nortel did). They sincerely hoped that BB10 would turn the company around but it didn't. This is the story of many failing companies. BlackBerry tried and it failed.

If investors stuck with the platform after each of the quarterly results were released and got burned, it's because a) they just followed blindly because they had an emotional attachment, b) they are not very good at interpreting results or c) they have no clue how to make sense of the four standard financial statements or how to read charts on the stock market.

The vast majority of analysts looked at all these many moons ago and told investors to bail out of BlackBerry. Unfortunately, some folks have an emotional attachment and looked for that one advisor that said "buy a lot and go long!" and then pocketed the commission. Pacific Crest and Canaccord Genuity analysts have been the loudest in screaming "GET OUT" since BB10 was launched. I remember coming on these boards months ago and just marvel at the vitriol and hate posted against these guys. Turns out they were wrong: It was WORSE than what they thought. How many of the hate posters now admit these firms were right to warn investors?

Not. A. Single. One.

This lawsuit has no leg to stand on. BlackBerry would be guilty of misleading if its published numbers were fabricated, and there is no indication that they were. Were their expectations more optimistic than reality? Were they hoping for a miracle? No doubt. Every stuggling company does.

But here is they key: The court system primarily looks at facts, not opinions to determine a ruling. The financial statements are facts and they were available to investors. The rosy expectations of BlackBerry executives and PR dept. are opinions. Any investor could have looked at the facts but chose to base their position in BBRY on the rosy expectations without due diligence. The investors should have read the disclaimer before putting their money into this stock. If they did, they knew the risks.

The lawsuit will be thrown out.

[oilgeo10]

BlackBerry's defense should be:

"As a company, we have never made good on delivering any product (device, os software, app, or other) on time, or when we said we would, at anytime over the last several years. As the plaintiff bought our shares within the past year, he should have been well aware this fact, including our management incompetence across all company divisions. Therefore we believe this suit is without merit and should be thrown out ! "

Posted via CB10

[bobauckland]

See what I mean.

Posted via CB10

Yup, looks like you can't help yourself.

[anischab]

The problem for RIM/now BlackBerry, was that most poeple (even BB users) thougt that BB10 was only a sort of update/upgrade of the old os, adapted to touch screen devices... the higher price of the devices hindered couriosity buys from "just try"... besides, do not underestimate the satisfied BB users that kept their "Bold" (and so) because it met all the needs... unfortunately for the company, not "every BB user" bought a new BB10 device, and the "outsiders" were hesitating, and when trying the OS6 and OS7 devices of friends and collegues, they see complete different software built in, no Apps like those of Apple's iPhone and of Android's... BlackBerry counted on the few vids on their official web site to be their advertising means... insufficient as every one knows... The Hub... innovation, yes, but soon copied by others. BlackBerry10 is and stays for me one of the best OS. But the rest of the world does not think so and is not ready to try it!

Posted via my Q10, Germany

[TheScionicMan]

There are firms that live on this type of lawsuit shakedown. With a little googling, I'm sure you could find almost identical suits against a huge list of publicly traded companies. This type of lawsuit rarely makes it all the way to trial, they usually end in a settlement payoff to make them stop.

Here's a start

Stock & Securities Class Action Lawsuits

[John Arnold]

This lawsuit will amount to nothing. Does Blackberry's leadership demonstrate incompetence? Sure. You cannot sue them for that. They were VERY careful in their public statements - no one can sue them for anything.

If you think this is a remote risk, take a look at the website of the law firm...the Partners graduated from Tulane (joke) and the site has grammatical errors everywhere. The lawyers will settle for a bag of dog treats.

[Cozz4ever]

While I generally dislike lawsuits, I really hope this opens a floodgate of lawsuits against BlackBerry management.
They have lied, deceived, and cheated consumers and investors out of huge amounts of money.
The impact it has had on people is devastating.
Employees are fired in droves because the management failed, all those families are affected.
And the worst culprits, the liars, the thieves, they're trying to make off with huge amounts of money.

I really hope they get done by these lawsuits, nailed right to the wall.
The company and majority of employees don't deserve what's happened over the recent past.
The people responsible should be held accountable.

Can you please show me links to the cheating, lies and deceivings and cheatings you are talking about?

You don't win law suits because a CEO is letting go of people. It's business. Nothing personal.

I've looked over some info about the suit and I see nothing that catches Blackberry of any wrong doing towards investors. I think investors lost and are not getting their money back. Just grasping at straws. In fact, Blackberry warned of more losses for the second quarter when the results came out in the first quarter.

[bobauckland]

Can you please show me links to the cheating, lies and deceivings and cheatings you are talking about?

You don't win law suits because a CEO is letting go of people. It's business. Nothing personal.

I've looked over some info about the suit and I see nothing that catches Blackberry of any wrong doing towards investors. I think investors lost and are not getting their money back. Just grasping at straws. In fact, Blackberry warned of more losses for the second quarter when the results came out in the first quarter.

Let's go with the promises of release dates of BB10, then delays, then the promise of BB10 on PlayBook, the lies about that, then the turnaround and not even a decent apology.
The lies about it not being fragmented and being super efficient, then awful battery life and drain, and not able to run on specs Android runs on.
The lies about app numbers, when on dev contributed 1/3 of the apps, and they knew that.
How about the lies about it flying off the shelves, best sales ever, followed by the official numbers and statements about how it's bombed.
The lies about targeting the top 3, followed by revelations about incentives for making the company fail, and a 55 million dollar pay off.
The lies about BBM by end of summer.

In terms of the layoffs, when they can't get things done with the existing employees, firing people will make that harder.
It's not business. It's 100% personal, it's Thor looking for his payoff.
They lied when they said BB10 was targeted at the hyper connected and people who do, by stripping out everything that made a BlackBerry from BB10.
They lied about carriers being the reason BB10 was delayed, and having great carrier relationships, cos carriers aren't bothered about BlackBerry because BlackBerry isn't bothered about BlackBerry.

Maybe this lawsuit won't stick. Maybe they'll get away with it.
But I hope the top management gets nailed right to the way.
Fraudsters and charlatans, the lot of them.

[greggebhardt]

Your posts are becoming more ridiculous every time you post.

Posted via CB10

The poster has VALID points and the right to post here. Checking out how many times he was liked and thanked, you might find yourself in the minority. TH is outright lie and mislead just before the famous ER and people lost a lot of money. Blackberry deserves to be used and I would join the suit in a second.

[greggebhardt]

There are firms that live on this type of lawsuit shakedown. With a little googling, I'm sure you could find almost identical suits against a huge list of publicly traded companies. This type of lawsuit rarely makes it all the way to trial, they usually end in a settlement payoff to make them stop.

Here's a start

Stock & Securities Class Action Lawsuits

There are also good firms who specialize in this type of suit and have a past history of winning. Some of these "firms" are quite reputable.

[m1a1mg]

Given that RIMM had attempted to manipulate stock prices in the past may be the biggest reason this case makes it to a hearing. A history of corruption usually catches the interest of a judge.

[njblackberry]

The only ones who will make money off of the lawsuits are the lawyers.
Stockholders will not benefit - it is simply more bad news and noise amongst the bad news and noise
BlackBerry enthusiasts will not benefit - nothing good can come from the lawsuits
Employees will not benefit from it - as the stock continues to slide (there are no buyers and BBRY reaching out to companies reeks of panic) there could be more layoffs
The Board of Directors is likely protected by insurance, so they don't really care
Heins and the boys are counting the days until they get their severance packages, a handshake and a job well done press release.

[greggebhardt]

The only ones who will make money off of the lawsuits are the lawyers.
Stockholders will not benefit - it is simply more bad news and noise amongst the bad news and noise
BlackBerry enthusiasts will not benefit - nothing good can come from the lawsuits
Employees will not benefit from it - as the stock continues to slide (there are no buyers and BBRY reaching out to companies reeks of panic) there could be more layoffs
The Board of Directors is likely protected by insurance, so they don't really care
Heins and the boys are counting the days until they get their severance packages, a handshake and a job well done press release.

Even if the stockholders got 25 cents on the dollar it would be better than nothing. TH deliberately lied and no matter if the BOD was insured or not misleading the stockholders had serious consequences and I believe there is merit to a case.

Stockholders who lost a lot of money are not concerned about hurting the Blackberry brand, nor should they be.

[jfmtl87]

Let's go with the promises of release dates of BB10, then delays, then the promise of BB10 on PlayBook, the lies about that, then the turnaround and not even a decent apology.
The lies about it not being fragmented and being super efficient, then awful battery life and drain, and not able to run on specs Android runs on.
The lies about app numbers, when on dev contributed 1/3 of the apps, and they knew that.
How about the lies about it flying off the shelves, best sales ever, followed by the official numbers and statements about how it's bombed.
The lies about targeting the top 3, followed by revelations about incentives for making the company fail, and a 55 million dollar pay off.
The lies about BBM by end of summer.

In terms of the layoffs, when they can't get things done with the existing employees, firing people will make that harder.
It's not business. It's 100% personal, it's Thor looking for his payoff.
They lied when they said BB10 was targeted at the hyper connected and people who do, by stripping out everything that made a BlackBerry from BB10.
They lied about carriers being the reason BB10 was delayed, and having great carrier relationships, cos carriers aren't bothered about BlackBerry because BlackBerry isn't bothered about BlackBerry.

Maybe this lawsuit won't stick. Maybe they'll get away with it.
But I hope the top management gets nailed right to the way.
Fraudsters and charlatans, the lot of them.

I'm not a lawyer, but I wonder how many of these "lies" can be proven to be lies in court, versus genuine business objectives and failures. I'd think the burden of proof would be on establishing that management willfully lied and misslead on those various items, versus attempting and failing to accomplish, which is not illegal.

For exemple, failing to release bb10 on due time was bad for business, but not illegal. Failing is bad, but not illegal in that case, unless you can prove beyond doubts that management that management should have known that a announced date was impossible (internal reports?)

Same thing for say bbm release, can someone prove that blackberry never had the intention to release bbm cross platform on due date, rather than a genuine attemp and failure?

Or can someone proove that financial statements data were willfully tempered with?

[gordo51]

If you don't quote people when you make a post like you did, it looks like you're talking to yourself.
Don't put yourself down!

We know who he is talking about

Posted via CB10

[njblackberry]

Even if the stockholders got 25 cents on the dollar it would be better than nothing. TH deliberately lied and no matter if the BOD was insured or not misleading the stockholders had serious consequences and I believe there is merit to a case.

Stockholders who lost a lot of money are not concerned about hurting the Blackberry brand, nor should they be.

Ever been involved in one of these (Class Action Lawsuits)? Shareholders will get a coupon good for $10 off of their next purchase of a Z10.