1. rollingrock1988's Avatar
    Research In Motion Ltd (RIM.TO) Key Developments | Reuters.com

    Research In Motion Limited announced that Holzer Holzer & Fistel, LLC is investigating potential violations of the federal securities laws by Research In Motion Limited (RIM or the Company). The investigation focuses on whether a series of statements made between December 16, 2010 and April 28, 2011, inclusive, regarding Research In Motion's business, its prospects and its operations were materially false and misleading at the time they were made. Specifically, the investigation focuses on, among other things, whether the Company knew but failed to adequately disclose that it was experiencing problems associated with an aging product line which were negatively impacting RIM’s business and margins.
    Woopsie.
    05-23-11 12:52 PM
  2. _StephenBB81's Avatar
    ??? How does a lawfirm launch an investigation?
    isn't their a securities commission to do that if there was any wrong doing?

    This sounds like a fishing expedition by a law firm looking to get a bunch of people upset that their $50ish stock is now $40ish, and they want to sue RIM for trying to drive down their stock price.


    I'd love to know what statements they are "investigating"
    branflakes and SCrid2000 like this.
    05-23-11 01:00 PM
  3. Reed McLay's Avatar
    BGR did not get the facts streight. I have updated the original Reuters coverage of the story.
    05-23-11 01:03 PM
  4. FigureThisOut's Avatar
    Eh. This will blow over. Whether they did or didn't give false information, big corps
    do this ALL THE TIME.
    05-23-11 01:07 PM
  5. Bla1ze's Avatar
    They did the same to Palm.. lol

    Holzer Holzer & Fistel

    Nobody cares about the ambulance chasers.
    05-23-11 01:07 PM
  6. FigureThisOut's Avatar
    They did the same to Palm.. lol

    Holzer Holzer & Fistel

    Nobody cares about the ambulance chasers.
    Yup. That's all it is. Ambulance chasing. I haven't been very fond of RIM and
    their approach the last 18 months but this shouldn't really be that big of news.
    05-23-11 01:10 PM
  7. Jake Storm's Avatar
    BGR did not get the facts streight...
    Wow, there's a surprise
    I don't know why anyone bothers reading BGR. I get all I need right here on CB
    05-23-11 02:21 PM
  8. greggebhardt's Avatar
    Sounds like some stock holders have engaged this "law firm" cause they lost so much money. Glad I sold my RIM stock over a year ago. Purchased it for $37 and sold for $142
    05-23-11 02:27 PM
  9. avt123's Avatar
    Wow, there's a surprise
    I don't know why anyone bothers reading BGR. I get all I need right here on CB
    Probably because lot of people are interested in things besides BBs.

    BGR is extremely biased though.
    05-23-11 02:28 PM
  10. MADBRADNYC's Avatar
    I know it's fanciful thinking.... But, I just wish everyone would leave RIM alone...
    05-23-11 02:38 PM
  11. andyahs's Avatar
    BGR did not get the facts streight.
    Shocking..........
    05-23-11 02:48 PM
  12. lnichols's Avatar
    Not like RIM is cooking the books. The company's management is simply incompetently executing new device strategy. They incorrectly thought they could get more mileage out of the existing phones in the established markets than they really could. Not grounds for a lawsuit, but I think that its grounds for new management!
    05-23-11 03:00 PM
  13. branflakes's Avatar
    What deRusett said. I'd want to know more before taking this seriously.
    05-23-11 03:00 PM
  14. FigureThisOut's Avatar
    Sounds like some stock holders have engaged this "law firm" cause they lost so much money. Glad I sold my RIM stock over a year ago. Purchased it for $37 and sold for $142
    The U.S. one? The all-time high on RIMM is about $115 on a close. I don't think
    it hit a $142 high in-day.

    Stock:Research in Motion (RIMM)/WikiChart
    05-23-11 03:22 PM
  15. _StephenBB81's Avatar
    The U.S. one? The all-time high on RIMM is about $115 on a close. I don't think
    it hit a $142 high in-day.

    Stock:Research in Motion (RIMM)/WikiChart


    He managed to sell apparently at the highest point in RIM history (RIM, not RIMM)

    in 2008 RIM reached 141.78 on the TSE

    2006 was when it was in the $37 range last.
    howarmat likes this.
    05-23-11 03:27 PM
  16. howarmat's Avatar
    it was 14x back in 2008

    edit: damn derusett beat me to it
    05-23-11 03:31 PM
  17. TheScionicMan's Avatar
    This is common practice against publicly traded companies. When I used to be a paralegal, we worked on these cases all the time. Just for the record, we defended the companies against the claims. The typical scenario is that they have a handful of people that buy a few stocks in these major companies. When a downturn happens, they claim that the guidance given was intentionally false or misleading when its merely a "projection". Because they have several parties alleging a loss, they create a "class" which puts more pressure on the company and makes it seem worse in the press. Both sides will posture and spend a lot of money in preparation for the "trial" that will never happen. Even though the claims are bogus, the potential liability is so great that it will settle out of court, on the eve of trial. It's just a shakedown and it happens all the time.
    05-23-11 03:32 PM
  18. sosumi11's Avatar
    They did the same to Palm.. lol
    The Palm lawsuit is different. It was about the H-P buyout

    However, there is no judge in the world that would protect anyone from a bad investment.

    No matter how obvious it is.
    05-23-11 04:56 PM
  19. SCrid2000's Avatar
    Sigh... well if there weren't crappy attorneys, the one or two decent ones wouldn't have jobs defending people like RIM
    05-23-11 09:36 PM
  20. mbrouill's Avatar
    I worked for a firm that violated their quiet period. Big fine, but company got thru it.
    05-23-11 10:53 PM
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