[Blacklatino]

LOL. I still remember someone mentioning a Class Action Suit against RIM after BlackBerry Outage in another thread. Anyway, BlackBerries' legal team is handling it. Besides, even if they won in court, a moral victory against a very small firm still cost money that could be better utilized in marketing. Anyway, JMO.

[BoldEnvy]

Has anyone read the report? I can't find a copy anywhere - just news coverage.

[m1a1mg]

As a supporter of Blackberry and a large shareholder of Blackberry

What exactly is a "large" shareholder?

[Omnitech]

Has anyone read the report? I can't find a copy anywhere - just news coverage.

The fact that the FUD-slingers wouldn't provide a copy to RIM/Blackberry when they questioned it, and the fact that they shutdown their website and purged a bunch of things after they were challenged on it suggests to me that you will have a tough time finding a non-embargoed copy of that report anywhere. It was never publicly released in original form to my knowledge.

[Vurhan]

I've read of people exchanging four Tours before they could get one with a good fit on the battery cover, couple of storms for a good surepress, many times for working 9000 volume buttons, couple of times for problem free 9900 batteries. These count as returns > sales in the books right?

[Soumaila Somtore]

As a supporter of Blackberry and a large shareholder of Blackberry I do understand and realize that Blackberry has had some serious flops and serious ups and downs. No company is perfect. I am also stating that Blackberry 10 is no way near perfect as it is in the baby stages of life. I think BB10 is a great amazing product and I know it will do amazing.

As a shareholder I know and understand Blackberry has been sued before and they have sued people before. What really makes me sick is the fact that a small firm like Detwiler Fenton can make such ridiculous claims ****without backing them up**** . It is disturbing that someone can make financial claims against a company without the proper backing up of the claims. It is against the law and as a shareholder I want to be compensated. I want this company sued and shut down. I think blackberry needs to make a strong statement against this company and shut them down. If this company has factual information then that is one thing. I want Blackberry to sue this company and distribute the money between shareholders.

Who is a shareholder? and who agrees with me on this issue?

I am Shareholder, User and Suppert of BBRY, I do agrees with you. I am glad by what BBRY Team did regarding Detwiler Fenton report and hoping they will not stop short after the securites regulators review.

[Soumaila Somtore]

It would be a much better move if you read the topic carefully first

I think his post make sense
Long overdue = BBRY should have done (Going after Detwiler Fenton)this before
good move ...

[Soumaila Somtore]

I'm NOT saying they are correct, NOR am I defending their story.
I am merely saying that you can't SUE someone, because they were wrong.

Yes you can sue someone because they were wrong when you can proof that their action cause BBRY (Shareholers) to have a lost.

[mnhockeycoach99]

No, they are pro BlackBerry and therefore completely blameless. And Canadian.

Keep Moving guys. Moving off the cliff.

For someone that is on a pro-BBRY site, you sure do have a snarky anti-BBRY tone to your comments. I'm not saying you have to only say positive things about BBRY, but I'm just curious why the "tone" in your comments?

[Soumaila Somtore]

How about lawsuit against the Canadian analysts like RBC Abramsky that gave a $90 price target and predicted huge revenue growth based on the blackberry Playbook when the stock was $65 per share?

Predicting is total different to lying and misinforming!!! and it is totally ok to not predict wright

[Soumaila Somtore]

Don't they need the results from the regulator's investigation before they sue?

Yes they do!

[spiller]

People have been making claims against this firm for "shady" past dealings. If you want the actual regulatory history of the firm, check out FINRA's broker check: FINRA BrokerCheck Search

The most egregious finding is a rogue broker which resulted in a $250k fine for fraudulent activity (initiated in 2003, resolved in 2007). The remaining items relate to general supervisory failings. If you look at any other broker/dealer, you'll find similar regulatory actions against any Wall Street broker/dealer.

I can't find any regulatory info on Jeff Johnson, CFA (too common a name), but i'll assume his regulatory history is clean.

Suing a research firm that puts out opinion pieces is a bad idea. In addition to all that was shared before my comment. How do you isolate this research as the offending one:

News earlier in the week indicated that some 71% would never buy a blackberry (Raymond James);
Another poll indicated that people 83% had no idea BB10 launched (MKM Partners);
Another research indicated that gross margins were lower than initially thought (Credit Suisse).

Detwiler can easily claim their research falls under the mosaic theory where they compile a bit of their own work w/ what other people do to reach a conclusion.

The stock drops 8%, it'll be tough to prove causation (were other tech stocks/sectors down that day); maybe Detwiler was the direct cause or maybe it was the last bit of news that week which prompted people to bail.

There is no minimum requirement on what constitutes "proper" channel checks, and unless BBRY provides detail sales #'s (which will get picked apart), Detwiler's research stands.

As evidenced above, a more serious charge of a broker robbing clients blind took the SEC 4 years to complete... where do you think this will rank?

Not much to add but someone was doubting Johnson was a CFA so I put in an inquiry to the CFA org and this was the response:

I would like to inquire if this person below, Jeff Johnston, is indeed a CFA, as he is not found in the member search (so maybe not member in good standing).

There is news of a questionable (potentially fabricated/false) report on Blackberry (sales) that Blackberry will request the SEC and OSC to investigate. Would the CFA institute generally wait for such investigation to conclude for considering revoking CFA due to unethical actions?

Thanks in advance


Jeff Johnston, CFA

Managing Director - Wireless Analyst
Equity Research
425 Fifth Avenue
40th Floor
New York, NY 10016

Mr. XXXX

Thank you very much for your email. I can confirm that Jeff Johnston, CFA is a member of CFA Institute. By the way, participation in the membership directory is optional for our members.

Regarding your question below, CFA Institute would generally wait for such an investigation to conclude before considering a revocation of a member�s CFA charter.

The Professional Conduct Program will review this matter and take appropriate action.

Also, you are always welcome to provide us with any additional information that you believe would be important for our review. Thank you for alerting us about this incident.


Regards,


XXXXXXXXXXX │ Paralegal │ Professional Conduct Program │ CFA Institute

[greyw0lf01]

I wonder whether those Detwiler Fenton analyst are chuckling after today's earnings release... and wondering whether they should still be waiting to hear from the S.E.C...

[Loosenut2]

Yep, an individual shareholder can approach the SEC and file a complaint. One item I believe would be how egregious the nature of the complaint is, meaning there must be some type of triage and the most severe cases get the most attention. So in Blackberry's case they must have thousands of shareholders who have been hurt financially, but then we're running into jurisdiction. Essentially the SEC is dealing with a foreign country and that just has to slow down things down a bit. I think I read that Blackberry's attorney (has a good reputation by the way) has an office in Manhattan? Or perhaps I'm confusing that with the news a while back that Blackberry was opening a second office in Manhattan. Whatever. And just from the number of class action suits I've been involved with over the years, including sometimes being recompensed for an equity that has already been sold, be prepared to wait a while, these things take time. And don't be surprised if there's lots of attorneys fees involved, lawyers other than Blackberry's, and you know how much they charge per hour.