BlackBerry gets hit with class action lawsuit

By Adam Zeis on 4 Oct 2013 10:45 pm EDT

A class action lawsuit has been filed against BlackBerry claiming that the company was inflating the stock price and "making a series of materially false and misleading statements and omissions related to the Company's business and operations." The claim states that shareholders were misled into believing that the BlackBerry 10 line of devices would bring the company back on the road to recovery and instead was actually made worse by the introduction of BlackBerry 10. 

Check out the full press release below and hit up the comments with your thoughts!

Press Release

Kahn Swick & Foti, LLC and Former Louisiana Attorney General File Suit Against BlackBerry Limited: Remind Investors With Large Financial Interests of Important December 3, 2013 Deadline - BBRY

NEW ORLEANS, LA--(Marketwired - October 04, 2013) - Kahn Swick & Foti, LLC ("KSF") and KSF partner, Former Attorney General of Louisiana Charles C. Foti, Jr., announce the commencement of the firm's securities class action lawsuit against BlackBerry Limited ("BlackBerry" or the "Company") (NASDAQ: BBRY). The lawsuit was filed in the United States District Court for the Southern District of New York on behalf of purchasers of BlackBerry common stock between September 27, 2012 and September 20, 2013 (the "Class Period").

What You May Do

If you are a BlackBerry shareholder and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, e-mail or call KSF Managing Partner, Lewis Kahn (, or KSF Partner Melinda Nicholson (, toll free at 1-877-515-1850. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by December 3, 2013. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. KSF encourages both institutional and individual purchasers of BlackBerry to contact the firm. The ultimat e resolution of any securities class action is strengthened through the involvement of aggrieved shareholders and lead plaintiffs who have large financial interests. KSF also encourages anyone with information regarding BlackBerry's conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.

About the Lawsuit

BlackBerry and certain of its officers and directors are charged with making a series of materially false and misleading statements and omissions related to the Company's business and operations in violation of the Securities Exchange Act of 1934. Specifically, BlackBerry failed to inform investors that, contrary to the Company's statements that its new BlackBerry 10 line of smart phones financially strengthened BlackBerry and positioned the Company on the road to recovery, BlackBerry's business, operations and financial situation was made even worse by the introduction of the BlackBerry 10 platform, which was poorly received by the market.

On September 20, 2013, BlackBerry announced the true state of the Company, which incurred massive charges due to unsold BlackBerry 10 devices and was forced to lay-off approximately 40% of its workforce. In relevant part, the release explained:

[The Company] expects to report a primarily non-cash, pre-tax charge against inventory and supply commitments in the second quarter of approximately $930 million to $960 million, which is primarily attributable to BlackBerry Z10 devices.

Furthermore, the Company also announced that it is targeting an approximate 50% reduction in operating expenditures by the end of the first quarter of Fiscal 2015. As part of this, BlackBerry will implement a workforce reduction of approximately 4,500 positions or approximately 40% of the Company's global workforce resulting in a total workforce of approximately 7,000 full-time global employees.

As a result of the foregoing disclosure, BlackBerry stock plummeted from a closing price of $10.52 per share on September 19, 2013 to a close of $8.73 per share on September 20, 2013. The value of BlackBerry stock continued to slide on heavy trading volume over the next few days as investors digested the bad news, and closed at $8.01 on September 25, 2013.


Topics: BBRY Apps

Adam Zeis Adam Zeis "Mobile Nations Content Strategist" 3740 (articles) 2892 (forum posts)

Reader comments

BlackBerry gets hit with class action lawsuit



Whats the big deal? Apple gets sued for the stupidest reasons as well... its a thing big companies go through at least once some point...

The big deal is BlackBerry is vulnerable and is not in a position like Apple, Samsung, Microsoft and etc to deal with this financially or have more negative news about it

So you'd like lube as well?

It's pretty obvious from the turn of events, they were intentionally misleading people.

What else is there to say? Atleast I have a roots evo guard case so I can throw my Z10 at a wall and it won't break.

My version of BB loyalty, is not selling my Z10 in case things do turn around.

Getting a combo gear + note 3 for now.

(See advertising I did for a case? Now I have a flame shield :D)

So you're saying they had a magic crystal ball and they knew that BB10 wouldn't be super successful, and they intentionally mislead people into thinking it would be? I think the people at BlackBerry did think BB10 would be successful. I think just about every company thinks their new products will be successful. That's the whole point in making those new products...

I mean, seriously, how were they supposed to introduce BB10? "Introducing, BB10! It won't sell, but we're making it anyway!"

"50% better than any previous launch in BlackBerry history" we were told of the Z10. By which quarter's accounting practices or whims of the day was that number pulled out of thin air? Now close to $1B (arbitrary?) write down of that most successful launch...which gets them a $0.5B tax refund at the end of March (maybe not so arbitrary after all.) They'll be in fine shape this time next year.

The suit is NOT based on comments made after the release of the platform, but before. Your criticism is of comments made since the launch. As they say in court ," irrelevant, objection sustained".

Posted via CB10

The "class period" ranges from Sept 2012 to Sept 2013. Thus before and after launch.


Posted via CB10

Re: ianbordas . . . Yup . . Caveat Emptor . . Intentionality is a hard motive to prove, obviously every company that releases a new product with this much investment hopes it will succeed.

Investors knew what they were getting into when they bought BlackBerry stock. It was common knowledge that BlackBerry was not doing well as a company.

Just looking at their disclosure on BB10 sales, anyone should have known that it was not catching on. Q1 - 2013 1 million BB10 devices, Q2 - 2.7 million BB10 devices, Q3 - approximately 1.7 million devices. From just looking at those sales figures and the negative reports from the analysts, how can these investors claim that they did not know what was going on?

Posted via CB10 from my spectacular Z10

2012-2013....the year things were already viby for light of that, I bought my z10 in Canada on February 6th.
I was excited and captivated by the whole hype.
As a former advertiser, there was no way anyone could foresee how bad things could have gotten.
To prove there was intent to mislead is something the courts will have to decide.
Not great news for BlackBerry and I am sure the media is going to enjoy this.

Posted via CB10

Investors are not gamblers. It is highly regulated, reporting and disclosure requirements. If they mislead investors people can go to jail.

Posted via CB10

Investors who don't realize that they are in fact gamblers are usually the poor souls on the losing end of things. Can't blame the house when you lose in Poker. Take a look in the mirror and be mature enough to accept responsibility.

Posted via CB10

Misleading investors is contrary to security laws. Maybe Heins needs to look in the mirror. He mislead consumers. Ethics is a slippery slope.

Posted via CB10

You are both right and wrong. Investors ARE gamblers, but it is also highly regulated and false or misleading disclosures can lead to jail. Any time a person buys stock in a company, they are gambling that the company will do better than it is at the time they purchase the stock. Even a company that is riding high can be brought low with a couple of bad product launches.

Personally, I think the lawsuit is frivolous, but I also think the golden parachute TH is getting is a load of crap as well.

lol if that was the case bbry would have been one of the top casino/company ;) as when gamblers loose, the casino/house wins.

Very good point! So stupid! I mean small or big companies will believe in products. Whatever products that they may sell... service or non service...

Posted via CB10

BBRY is different from every other compan, others work hard promoting and selling their products, bbry just sat n watched the market slipped away, then wrotedown the z10 and weaken financials even.

Why didnt they market and advertise z10s o even q10s properly? why did they kept on doing more and more blunders. announce something now, create hype now, and launch a product when the hype is dead, this is bbry.

"they were intentionally misleading people"

No they weren't. If anything they misled themselves. And they were certainly misled by others.

They always provide the covering speech before offering guidance.

Well they did hire a good Chief Legal Officer just for these situations, who has fought and won these big cases. The law firm that issuing them has a ton of class action lawsuits in place including some against Rogers for their system activation fees. Bad news but hopefully it gets thrown out in court.

I think I saw this law firm advertise on the side of a City Bus asking if you were injured in an accident. Ambulance chasers!
Wonder if I can sue our president for wrecking the economy and my 401K!

I'm with you!

I think Bush should be sued for tanking he economy!

How do we get this thing rolling?

/sigh. Five years later and a doubling of our national debt and it is still always Bush's fault. I'm guessing that will be the platform for the 2048 elections as well?!?

Edit: I'm not saying that Bush didn't screw up, but it boggles the mind how everything, more than a full term later, is still his fault and his alone.

Of course it's not all his fault. But it's unfair to blame the sitting guy 100% as well. Just trying to keep things fair,

They've covered their behinds all the way on this.

The suit will go nowhere. Might be some interesting tidbits come out though.

I think one or two other companies might be more worried than BB about what comes out.

When there is blood in the water the sharks come out to feed. In this case litigation lawyers...

this is great... these liars should be put to judgement for misleading about "leapfrogging" the competition... I waited a lot for my beloved z10!

and misleading people to buy Z10 based on the false promises that BB10 will come to the PlayBook. Yes, BlackBerry lied to us!

as well as judging Kevin for always being so "comprehensible" about BBRY decisions, c'mon! iOS had 256mb of RAM when it started!

They were never misleading. My Z10 can do so much more than my wife's iPhone. Still use my PlayBook everyday. These are just low life lawyers trying to get some $$ out of BlackBerry now that they are vulnerable. It will go nowhere .

Posted via CB10

They absolutely mislead consumers about playbook. Ethical behavior starts at the top.

Posted via CB10

I agree on that point. BlackBerry does things in their best interest, not mine. So shall I.

I have been a blackberry supporter for 5 years. But i will not make excuses for their poor business decisions or back them up. They are the only ones to blame for this mess. Seems everyday blackberry is called out for something they did/didn't do and the fanbois keep singing their praises.

If they turn around their fortunes, I'll buy their product. If not, I'll move on to something else. But I'm not going to concern myself with trying to prove blackberry is something they are not.... honest, upfront, and is for the consumer.

Posted via CB10

This is just what happens when rich people get upset. I invested in BlackBerry because I like what they had to offer not because I wanted to get rich. Their plan didn't work. I'm not upset I lost money, I'm sorry I wasn't able to share in the success they hoped for.

Shareholders sure can be the greediest mofos ever. At least you invested in BlackBerry for its products and not for it's money.

Posted via CB10

This is an ill-thought-out comment. People shouldn't invest in companies because they like their products. They should invest because they believe said company is sound and turn a profit for it's shareholders.

I own Coca-Cola, but don't drink soda of any kind. I also own tobacco stocks even though I find smoking to be a disgusting habit.

Investors are looking for a positive return on their investments.

I'm not rich, still don't like them now.

It's people who feel they have value, above and beyond the system.

I'm a reforming criminal, so maybe I count as part of the 'rich'.


You may not be "rich" but you could still be greedy. When you invest in something, there's a chance you can make money, OR LOSE MONEY. That's the point of investing. If it was a guaranteed success, everyone would have put their money in. There's an inherent risk in investing. BlackBerry didn't magically "know" that BB10 will not sell well. Of course they were optimistic that people might get it or else they wouldn't have made it...

^ This.

It is a gamble, nothing more nothing less. You win some and you lose some. Grow up.

#GetWithBB10 Channel @ C000D7228

This is nonsense. It is not gambling
. It is highly regulated. People may go to jail. There are laws regarding disclosure. LAWS.

Posted via CB10

+10000000 just about rich dbags that expected to get even richer. Gee I wonder if they also have lawsuits against their travel agents, for trips to Vegas. Whenever they lost money at the tables. Stock Markets and Gambling no garanties baby.

Posted by CB 10 via Z10!

Yes, they need to fire the person looking into the crystal ball for not telling them BB10 wouldn't be a resounding success...

Who wouldn't think BB10 would be a success. All of us here at CrackBerry were following the product as it evolved. Even after using it I still believe it's an incredible product.

I honestly think they can do away with a lot of the useless animations in the UI. I know it makes it look nice, but it does make it require more memory and in my opinion actually slows down the use of it. I'd rather it be snappy and function quickly than look pretty. But even the way it is, I'm much faster navigating around using a BB10 phone than any other phone. Using an Android now just feels clunky compared to using my Q10... I do like the phone and think it's a great OS so far with some glaring problems that hopefully gets fixed in the next update. I don't regret getting the phone at all. I enjoy it more than any other I've tried.

If this is true then blackberry may just be done too much bad news at once they need to get it together

Posted via CB10

Ya exactly! Ppl long time ago telling me BlackBerry is done they re to late to the game and I was such a believer with BB 10. So much for that

Good news always crushed by bad news.....the Americans want The Canadian tech industry done once and for all!

BlackBerry will survive in the Corporate and Government Sectors! My Z10 is so much better than an iphone!

Your anger seems to be clouding your judgement, as you've made several idiotic comments lately. If you let go of the bitterness, you may free up your hands to hold onto some credibility.

I am not

BlackBerry will survive in the Corporate and Government Sectors! My Z10 is so much better than an iphone!

"I am not"

Then you are horribly misguided. How long before you start blaming Jews, Blacks and Gays?

I see you have some racist issues. Perhaps it will be you who heads for that level. If you don't think America wants to control the world's mobile and Internet dealings, then please explain the NSA along with Google and Apples compliance. Put all the news articles, blog reporting etc together. Name me one other company that has taken on this kind of assault. It is absolutely relentless 24/7. When BES10 and BB10 devices were approved for use in every NATO Country for high level security, and they are the only one, did anyone in America or Canada report that besides Crackberry? However, every piece of dirt never gets missed......please inform us Mr know it all what the hell is going on.

BlackBerry will survive in the Corporate and Government Sectors! My Z10 is so much better than an iphone!

Y'up! I'm a New ork Jew who racist against Canadians and a company called Blackberry. You figured me out! Damn!

Your logic is so ill-conceived I don't know where to begin. But I never try to explain Quantum Mechanics to goldfish.

But instead, I'll ask you this Mr. Xenophobe. If they U.S. wanted BB to fail so badly, why do Gov't agencies still use and adopt BB...?

And they stock price is in the toilet so why doesn't the U.S. Gov go behind the scenes and convince Apple of MS to buy BB the way they got other firms to help Goldman during the bailout.

Look, I don't know you. So I don't know if you really believe that an ENTIRE COUNTRY'S GOV'T wants to destroy a company. But if you do, you really need to ask yourself why you believe what you believe and what the basis for that belief is.

Take your time. I'll wait for your answer. It should be as entertaining as the rest of our post.

Goldfish.....hardly my friend. you need not explain quantum physics to me, however you may want to explain to everyone here, how and why you keep pulling a racist card into a discussion. Then to comment that I am so misinformed, a goldfish etc reinforces your poor judgement of the person you are debating with. I actually am well educated. So sometimes I throw a little spice to zest up the site, but even when I do, there is truth and plenty of proof to back up my comments. You have a great now!

BlackBerry will survive in the Corporate and Government Sectors! My Z10 is so much better than an iphone!

You completely evaded the gist of my statement. And, as it would seem that your needle is stuck on stupid, I'll reiterate..

Your 'theory' that the U.S. Gov't has decided to 'bring' down a Canadian company when that same Gov't purchases and deploys devices made by BB is so far into the realm of gutter-trash that you do yourself and your reputation an extreme disservice each time you repeat this drivel.

You have proven nothing. You have absolutely no empirical data to back up any of these claims. Then you attempt to proven your powers of deduction and say "Aha! It's a conspiracy!" You play 'investigative journalist", pick and choose only information that supports your delusions and then you poorly argue the case on a forum where you believe the majority will agree with you.

If you really want to prove that there is an American Gov't Conspiracy against BB, then why not create a forum of your own and post your evidence?

As an American, I find the Anti-American comments here both confusing uncomfortable. After all it was AMERICA that made BB a worldwide brand.

I find the the Americans on this site who do not speak up about this non-sense even more unsettling.

But, like I said, expecting reasoning from Goldfish is where I went wrong in the first place.


Finally someone said what needed to be said.

Posted via CB10 from BB Z10

Your signature betrays you. If the Americans really "want the Canadian tech industry done once and for all," whose corporate and government sectors will BlackBerry survive in?

Government and corporations other than the States I guess

BlackBerry will survive in the Corporate and Government Sectors! My Z10 is so much better than an iphone!

It's amazing the arrogance of Americans. Yes your father's built a great nation, but the current generation that occupies that land with its attitude of entitlement is blowing it down the tubes. The real sad thing is the number of people that wish BlackBerry fails. Yet I believe it is the Americans that are facing that fate at home and they refuse to admit that things need to change. They are on a worse path than BlackBerry and yet they focus on BlackBerry

BlackBerry will survive in the Corporate and Government Sectors! My Z10 is so much better than an iphone!

Sadly I too think my country is in trouble. But it isn't just the young and their sense of entitlement. Those in charge love to get votes and don't mind buying them through government programs. They also have no concept of a budget and how to be fiscally responsible. The solution always seems to be "make things more complicated," and never to simplify.

"the Americans want The Canadian tech industry done once and for all!"

wwwow,,, really??? & i guess the Canadians are after our bacon industry???

After their failed delivery and outright broken promise of BBM to Android and iOS, which was quickly covered up by even more bull **** (leaked versions overwhelming their servers? Give me a break...), I actually feel vindicated by this class action lawsuit. At least someone had the guts and resources to stick it to BBRY.

Do you work on the BBM team at BlackBerry? Also it wasn't a broken promise at all. Never once did they say "we promise to deliver BBM by end of summer". They delivered it on time according to the faux "guaranteed" time line that people like you put on them and unfortunately an issue took place that they had to stop the roll out. They have however committed 100% that they are still bringing cross platform BBM to iOS and Android. That is a promise and they will deliver

You have NO idea what happened and to spout off the way you do is ridiculous. This "sticking it to bbry" is nothing but another ploy to drop to stock by "a former lawyer"

Posted via CB10

YOU are the one misinformed. BBRY did in fact give a date, it was Sept 21st, just check @BBM twitter feed how many times Sept 21st was declared as the official roll out date. Get your facts straight then we can talk...

But it wasn't a promise date. They delivered but had to stop the rollout because of an issue. Learn to read his comment through.

Posted via CB10

Hmm... how should I put this for you...

Just because a FEW people (who/where are these few?) got to download BBM for Android/iOS is not the same as actually going cross platform. It's the same old tricks BBRY is pulling - giving it to a few (again, who?) to download but then taking it off the shelf so they can say they at least made an attempt to uphold their promise...

Let me ask you, were you able to download BBM onto your Android/iOS device? Neither did I. It didn't go cross-platform regardless of what BBRY PR tells you.

via @BlackBerry:

"BREAKING: BBM Available for Android on September 21 and iPhone on September 22"

Link to BlackBerry website:

BlackBerry even gives a specific TIME, not just a date:

BBM will be available as a free download for Android smartphones running Ice Cream Sandwich and Jelly Bean (Android 4.x) beginning at 7AM EDT on September 21. BBM for iPhones running iOS 6 and iOS 7 will become available for each market on the App Store schedule of 12:01 AM local time on September 22."

via @BBM:

"XOXO #iPhone. BBM is coming September 22 #London #BBM4ALL "
"<3 #Android. BBM is coming September 21 #NYC #BBM4ALL "

If that isn't a promise date, I don't know what is. And last I checked, BBM didn't go cross-platform on those days; again, did you get BBM on Android/iOS? I know I didn't, and sure as hell know most people with Android/iOS didn't. So, for whatever reason it didn't, it's an excuse...

Interesting that they didn't realize that this was a problem until after they tried to release bbm. With all of crackberry praising BlackBerry security they sure do have a problem with leaks. Either they are not secure or they are the ones that release them.

To finish this up, isn't it interesting how bbm fails to launch lowering the stock and all of a sudden there is a buyer?

2 + 2 = 4

Posted via CB10

Erm just one question... why do you suposse the leak came out of house BlackBerry? did they not have to give beta versions to both ios and Google? Would it no make just as much sense for the leak to come from there.

As for breaking promises I do know that the whole bloody world tried to become new zealanders rather than go to bed and wait till the AM. Didn't anybody think a phased launch was being done for a reason?

As you like maths so much let's do some shall we. If BlackBerry (3rd largest mobile os) has only 2% market share we can assume that windows has

Kudos on mentioning their leaks. Can't even contain their new OS. Like they can't focus their time to get it finished for release but instead need to keep the hype up by putting leaks out.

Turn your back on me, blackberry, i turn my back on you.

Posted via CB10

Hello, you still there?

I guess you went and checked their official Twitter feed and got the cold hard truth.

I'm here.

Does the feed say "we promise...",or does it give a release date? Does the feed guarantee the release would go through, regardless of unforeseen glitches or issues?

I'm going to assume rise47 was alluding to the fact that it's naive, and - as demonstrated by many posters - childish to treat a published release date as an iron-clad guarantee to be fulfilled regardless of any obstacles. The constant whining about this broken promise, or the broken promise of a bridge makes you sound quite childish and foolish.

Do you get angry when your flight gets cancelled. I don't know why anyone would because it takeoff times aren't ironclad.

Posted via CB10


What people don't realize is that a missed deadline like this affects business. It certainly has affected whether or not we go with BB10 or Android for my company and it's affected which group messaging app we're going to use. The delay has certainly lost a couple dozen potential BlackBerry/BBM customers, and it has definitely made an impact on how we (and pretty much everyone else) thinks about their future purchases, or lack thereof, of BlackBerry products.

1. No, and at times I travel every other week for months. Because I don't live in a bubble, I'm aware flights are sometimes delayed or cancelled. But in fairness to you, your analogy is weak.

2. I have witnessed people get angry over a cancelled flight,and the most animated of these appear to be the biggest idiots in the airport. But I have never seen anyone complain about a broken promise (almost daily for two weeks) because their flight was cancelled. NEVER.

3. Do you get angry over cancelled flights? Do you go on about it for weeks, accusing the airline, the weather, or the maintenance crew of broken promises? What has your anger netted you, that you wouldn't have gained without the anger?

just a simple question: Do you work on the BBM team at BlackBerry?

If yes then i will start trusting what you said. if NO then you have NO idea what happened!!

Nobody can blame blackberry failing on BBM not being on ios and android that's damn near the stupidest thing I've ever heard and Samsung is even slower with os updates the galaxy s3 still has android 4.1.2 when 4.3 is already out

Posted via CB10

Did you not read BBRY's response? They said they had "too many" people using a leaked version of the app and it caused their system to become overwhelmed. Sept 21st was yelled from the rooftops of when BBM was going to be officially cross platform. If having "too many" people on their servers delay BBM, then that means BBRY never was ready/prepared to go cross-platform on the 21st in the first place...

When the company has THAT many late deliveries, empty promises, and screw ups it's no longer a slap on the wrist.

Dude it's an app that's not going to destroy a company gta onlines servers crashed as soon as they released it 3-4 days ago but Rock star still exists maybe they will go bankrupt and dwindle down to nothing because they weren't 100% ready upon launch shit happens company's will survive without having a cross-platform messaging app

Posted via CB10

If this was the only set back BBRY had this year, then yeah, I'm with ya. But, when you add up all the other mistakes and empty promises (BB10 will definitely come to PlayBook!), it's no longer an "honest mistake".

Mobile companies lie like this all the time when I had a galaxy s3 I was waiting on a 4.2.2 update which they said was coming instead Samsung flipped it and decided to go straight to 4.3 which is taking longer to deliver some of there top end phones are stuck with an outdated os with promises of updates some never come and I don't see a blackberry tablet really making it anyways it was a mistake making that thing and once again bb10 not coming to PlayBook would not destroy the entire company it's bad business decisions like lack of advertising to move product or varied price ranges there was no way in hell I was paying 200 dollars for a z10 when I signed my contract I got an s3 for 40 then traded to a blackberry at what seems to be a bad time to be a blackberry fan your almost saying that if Imessage never went cross-platform then apple would fail or I can't see emojis on every OS then apple just dies out of nowhere with a dead face emoji all over there stores and phones

Posted via CB10

You're still delusional.

I'll put it to you the same way I did an associate: If you believe that BBRY really has their **** together and all these empty promises and failed deliveries are "okay", then put your money where your mouth is. If you were to take $100,000 of your own money and invest in BBRY, Apple, or Samsung, and it has to be one of the three, which would you choose?


I am saying blackberry is not doing well read the comment but they aren't going under because of a stupid app that never went cross-platform I would not invest in any I would use the ten thousand to get BBM into ios and android and miraculously fix blackberry because that's there entire problem is not delivering on an app or a tablet update because they have always been unsuccessful without these things right? I've had a lot of phones, tablets etc. even if they PlayBook got bb10 it would still suck and blackberry probably knows this why invest time and money in investing into a poor product when the improvements will only matter to the few who have play books. They thrived without even a thought of these things on another platform in simpler terms BBM could never come to ios or android and blackberry will probably still survive I doubt a 4.7 billion dollar company will go away with the blink of an eye and as they are releasing yet another phone shows they are still trying.

Posted via CB10

I actually think BlackBerry has the most potential for returns over the long run. I don't have 100K to invest, but I've purchased the shares that I could. I wish I could continue to participate in their future gains but looks like that won't be possible once they go private. I'd like for them to stay public and bring back Balsillie.

Posted while peeking and flowing on my incredible BBQ10!

Well that's an idiotic statement if I have ever heard one. Well if I put it in Google $800.00 plus per share hands today, I can almost guarantee a loss going forward, just like Apple was going to $1000.00 a year ago. Every news outlet etc were ecstatic Apple will break the $1000.00 mark. I laughed. I said it's going to slide hard. How does Apple exceed companies like ExxonMobil. These guys have tons of money equipment and oil reserves that mankind will war over in a second. What does Apple really have at the end of the day as a tech stock. Well if I bought Apple at $750 where would I be today. Apple with their latest phones, the big sale rush for ios7 has not broken the $500.00 mark. Apple will continue to slide. Now I did buy BlackBerry below 10 bucks and sold for that's investing. On another note, you never should invest more than 5 percent of your portfolio in a sector. So if you want to shoot off your mouth with your big $100,000.00 challenge, then you expect us higher intelligent than you people to have how much money lying around? Listen, take your old and boring anti BlackBerry rant elsewhere. I enjoy the great experience we get from the z10 and really look forward to the z30. If it takes a another month, or 6 I don't care. How many promises, commitments have you made over your life time to people and have either completely let them down or at best been late. If you work, has your organization been ever late on delivering something. How would you like it if wee kept track of you, and every time you mess up, we throw it back in your face forever more. That is what everyone who hates BlackBerry does. The reason I guess is it makes them feel better to cover up their sorry existence, and others allow them to do it.

BlackBerry will survive in the Corporate and Government Sectors! My Z10 is so much better than an iphone!

They didn't just say it was a leaked version. They said it was a leaked version with a bug in it that they had already identified and wad trying to fix. Too many people on that leaked version made a smaller problem into a bigger one. That was what they said happened.

Outside of that, I agree with the sentiments that too many mistakes, even less advertising, and not being unified Put them in hot water, but I don't believe they intentionally mislead shareholders. They might have - you never know without having been on the inside - but it doesn't look like it to me.

Posted via CB10

hahahhaha sorry i cant stop laughing at your "the galaxy s3 still has android 4.1.2 when 4.3 is already out". if things were to go by this then one should complain my Q10 runs OS 10.1 but why does my Bold 9900 still run 7.1!!

S3 isa previous generation device, like a bold 9900, and as for the s4 it will surly recieve 4.3 update soon, and is already running the kind of latest 4.2.2 (widely used and installed among the jelly bean lineup).

The lawsuit does nothing but transfer wealth from existing stock holders to the ones suing. The guys are dumbasses, all statements are forward looking and this is a SECOND disclaimer that is put on all companies press release. It was in the companies best believe that BlackBerry 10 would reverse the decline and not increase it. The stock price is set by the market who can see through any bull. Any how, the market was bearish in BlackBerry last year this time. I really don't know what the compaint is about.

Z10 posted

BBRY had so many screw ups, empty promises, beating-around-the-bush announcements, and failed deliveries; they got what was coming to them.

We all knew this was coming. The upside is this could take years to settle perhaps when the company is in a better position to deal with it.

Sent from my BlackBerry Z10

Years to settle means years of legal fees and more money they need to spend that was probably already budgeted for something else.

Posted via CB10

They tend to have money like this allocated already. I'm sure they have their own crack team of lawyers in retainer already paid up to deal with bologna like this.

BlackBerry 10 United

It's funny because there is no grounds for a case...unless anyone actually believes BlackBerry was not hopeful that BB10 would save the company.

Posted via CB10

Yea this is stupid, I should sue every company I lost stock money on.

I think they are going about this the completely opposite and wrong way. If anything I thought they would sue that BlackBerry purposely drove the stock price down before the announcement of trying to go private.

Posted via CB10

Talk about getting kicked while you're down. Not sure about this conspiracy theory. I think BlackBerry genuinely believed BB10 would save the day.

Posted via CB10

I love my z10 as well always hated iPhone blackberry and android are almost the same in my eyes which is a good thing

Posted via CB10

LOL! I didn't know what you meant until I looked up some laws in Louisiana.
Former Attorney General of Louisiana, formerly responsible for upholding the following dumbass Louisiana laws:

Biting someone with your natural teeth is “simple assault,” while biting someone with your false teeth is “aggravated assault.

It is illegal to gargle in public places.

One may not “dare” another to go onto railroad tracks owned by another.

Persons could land in jail for up to ten years for stealing an alligator.

It is a $500 fine to instruct a pizza delivery man to deliver a pizza to your friend without them knowing.
Running an abortion advertisement can land you in jail for a year.

“Fake” wrestling matches are prohibited.

Spectators at a boxing match may not mock one of the contestants.

All garbage must be cooked before it can be fed to any hogs.

Prisoners who hurt themselves could serve an additional two years in jail.

All this courtesy of your friend...Thorsten Heins....great job there liar....nothing new...look what he did to the playbook.

Posted via CB10

He promised us BB10... on the give to the playbook. he is the one who killed it, and he will kill the company. Get. Him. Out. A.S.A.P.

Posted via CB10

Please post the video or article to where he said "I promise to bring BlackBerry 10 to the playbook". He did not kill the Playbook, nor Bb10 on the Playbook. The OS not working properly on the Playbook is what killed BB10 on the Playbook.

Posted via CB10

Look on Google. I seen the news broadcast were he said in plain english...all existing playbooks will be updated to BB10. I'm serious. It was said by him, on the news on tv.

Posted via CB10

And he did everything in his power to bring it to the PlayBook. It didn't work. If he didn't try and said that he would be liable

Posted via CB10

So, if I tell my bank that I did everything in my power to get the money I said I would pay, but it didn't work, I'm not liable?

Here's the news clip:

RIM CEO Speaks Out on BlackBerry 10, Tablet Market CNBC
Ronnie Thomas

The actual link will not work, for some unknown reason. Watch from 6:30 and on.

Posted via CB10

When will certain Playbook owners finally give up on "I was wronged"? GIVE IT UP. I'm tired of reading it. I own a playbook. I bought it to do a job and it has done that well. I never expected anything more. If you don't like the job the current CEO has done, submit your CV as candidate for the job. Be sure to list your business experiences, levels of education, and IQ. Use the "WOW" factor. I'm curious to know that turned out.

Should read "how that turned out"...don't forget to list on YOUR CV, exactly where you were taught your grammar,lol.

Awe, your but hurt,lol?

Posted via CB10

For some reason, you come on here, and can't stand yourself. If you're tired of hearing certain things, go away. Expect comments...or do you want some earplugs?

Posted via CB10

Hang on before you take that holier than thou attitude. I bought my PBs (plural) BECAUSE of TH's promise of bringing the much-heralded BB10 to it. (Yeah, I saw him say it, too...) So I think plenty of us have a right to reasonably feel we were wronged.

Posted via CB10 with my Z10

Yes I understand your point and I lost my bridge functionality that really pissed me off. However, in the end I have finally realized that in order to bring BB10 forward, and the challenges in doing so meant things have to go on the back burner. Bb10 is a great platform that is getting better. It needs consumer support to evolve and it has mine.

BlackBerry will survive in the Corporate and Government Sectors! My Z10 is so much better than an iphone!

exactly and correct me if im wrong but i read on crackberry that he was one heading the playbook/product division?

Lol such a BS claim. "How dare you think a new platform will help you be successful, and how dare you not actually know the future"

This is just ridiculous and won't amount to anything.

Posted via CB10

No, what's BS is the long time promise and deadline of bringing BBM cross-platform, thus driving up the stock price; then suddenly making an excuse of why they can't deliver and coincidentally announce that Fairfax is wanting to buy out BBRY at $9/share shortly thereafter.

THAT is BS...

I really wish CB would have a filter so I could remove your boring and ridiculous comments about promises once and for all.

BlackBerry will survive in the Corporate and Government Sectors! My Z10 is so much better than an iphone!

It was only a matter of time, I guess.

Cool that the plaintiffs probably have the best email experience while emailing the lawyers though, right?

Not sure if this will be actually successful unless they have proof from previous employees or from someone that is directly familiar with the matter. It's hard to prove they were misleading investors because at the time, they could have very well thought that it was going to be successful.

"greatest launch ever..."

the only thing that might save thor is if HE was misled & given bogus info,,, he seems to be a sincere likable guy, orrr a well practiced liar...

Actually the first quarter launch technically was. They did have some success moving devices and they did have a lot of Apps for a new platform at the time he spoke those words. The problem is you had your quick converts and the companies using Legacy devices stayed put. This is shown by the number of legacy devices that are still being sold. I see so many companies with legacy devices. They are not going to upgrade until the OS matures and BlackBerry shows some stability. This bodes bad for BlackBerry as it now needs a partner that shows belief in the platform and will guarantee existence down the road. Then I think devices will start to move.

BlackBerry will survive in the Corporate and Government Sectors! My Z10 is so much better than an iphone!

Upper mgmt has made FAR too many ridiculous mistakes for me to feel bad for them.

They got what was coming.

-STV on Z10STL100-3/ TMO US

That being said, with all the news lately...I'm cleaning puke up right now. Oh how sickened I am by the thought of having to switch to...Windows Phone 8...if I had to switch to iOS or Droid I'd chose Jitterbug and forget what a smartphone is.

-STV on Z10STL100-3/ TMO US

Yes, the OS which kicked Blackberry down to 4th position is worst. Stop these delusional commments!!

I think it's more than that reason. Windows sucks period and everyone knows that......stability is hardly a Windows trait. BB10 is so stable, people just haven't chosen to try it due to all the negative and false BlackBerry bashing.

BlackBerry will survive in the Corporate and Government Sectors! My Z10 is so much better than an iphone!

What the fuck??/ you gotta be joking me. Windows phone is one of the most stable and smooth OSes on the market. Even Windows 8 has improved in performance and boot times. Don't judge on what is not true. WP does have a good reputation of being Smooth and different.

WP is stable? Are you kidding me? I have used Lumia for a year and it constantly gets random reboots depending on the network I was using, they even had not fixed the bug with contacts names in SMS.

Posted via CB10

isn't that GDR1 solved?? random reboots. ofc it depends on the network. plus my Samsung Ativ S never had random reboots. So your claim is wrong. if you think that WP as a whole is unstable. think again.

And Windows 8 computers are now toys for kiddies. Just try bringing Windows 8 into the work environment and watch your tech department go insane with all the issues. Windows focused too hard on making an interface aimed at apps and the kiddy consumer that they forgot about their corporate base. The corporate base is what keeps Windows alive, as there are better choices for the consumer side. Hell my z10 is my consumer side. I never use my laptop anymore. When I want a bigger screen I connect to my tv. The browser is way faster than my laptop.

BlackBerry will survive in the Corporate and Government Sectors! My Z10 is so much better than an iphone!

Now I understand why people buy Apple.....sorry to say it....doesn't sit's that for a portfolio ?

Posted via CB10

They're the investment equivalent of ambulance chasers or patent trolls...... They also currently "investigating" Dish Network in regards to that company's bid to acquire LightSquared, a company that is trying to develop a 4G LTE national wireless broadband network.

Investing in any company is a risk that investors must be willing to take and if folks are going to sue a company because of their stock prices, why even bother with being a publicly traded company? Why isn't this firm going after the analysts that manipulated the stock price with false reports?

Maybe because very few, if any, of those reports were false. Seriously. This coming from a BlackBerry diehard, it's over. Done, tutto finito, Das Ende, Fertig.

I cannot believe how much this company has sunk and how the management and BoD were allowed to do this to a Canadian icon. It's Nortel all over again.

Posted via CB10

Being from the US I am truly embarrased by this. We have become such a litigious society it is disgraceful.

This will be a hard case for the plaintiffs to prove, but it will exhaust needless resources and may well ensure that "some fat lady sings". Sadly, the activist shareholders who probably instigated the litigation will yield a far less return than was even offered by Fairfax.

P.S. It may very well be the end of CrackBerry and Mobile Nations.

Posted via CB10

You realize Mobile Nations existance doesn't rely on BlackBerry right? That P.S. is more ridiculous than the class action suit lol

Why yes, yes I do. But I also visit the other sites and they don't seem nearly as robust as Crackberry. And the Android site is so fractured it is unseemly. I'm sure "Google Analytics" would prove me wrong as I'm certain page hits on the non-BB pages are much higher. I wish you guys the best and I will keep showing up as long as it is around.

Posted via CB10

Why do people say bad thing bout BlackBerry company I love the way they make there for business & for the people that like BlackBerry smartphones

Posted via CB10

I think a lot of people love them...myself can only lie to someone so much, then guess're screwed.

Playbook update is an example....

Posted via CB10

If you're thinking that BlackBerry didn't mislead shareholders, then just look at Thorsten Heins' Bloomberg interview where he says that the Q10 will millions.

Posted via CB10

Because he probably thought they would.. I own a q10 it's an amazing little phone. If I saw it before it released it would have said the same thing... it's not BlackBerrys fault (although the could have advertised better) shit I walked into a best buy yesterday to see when I could preorder a z30 and the guy said it wasn't coming out because they were bankrupt, I shook my head and showed him the release on twitter so he said well they're going under soon probably not a good idea to buy it??? f*!k best buy and the doubters....

I'm just of a supporter as you but to say it is not BlackBerry's fault is, then who it is?

Does the company not get any blame for the nonexistent PR, marketing and damage control?

Does the company not get any blame for the numerous delays and lack of time commitments?

Posted via CB10

PR and damage control?...please.. They released top notch devices with specs on par with the competition but got slammed for not going far enough, I got the bugs fixed with 10.1 within weeks of buying my phone and everyone said they took too long, when I walk into best buy or future shop I'm told NOT to buy a BlackBerry, everyday the media is talking shit how BlackBerry can't get it together and somehow THOR is breaking promises if the phones don't sell? Go back to bed your drunk...

Ok BlackBerry z10 was released with iPhone 5... screen resolution BlackBerry wins.... processor BlackBerry wins... ram BlackBerry wins...battery size and life BlackBerry wins... Geekbench scores BlackBerry wins... html 5 browser performance BlackBerry wins... front facing camera BlackBerry wins... nfc BlackBerry wins....hdmi BlackBerry wins... expandable memory BlackBerry wins .. oh or maybe it's too little too late right

in various benchmark test iPhone 5 phone wins against Z10 , iPhone 5 have better processor, battery life, browser + their GPU are much better than Z10.

but if you compare it with Galaxy S4, HTC One , sony Xperia Z, all BB10 phone including Z30 specs are very outdated

Bingo. This negative misleading bashing has taken its toll. How people can't see what is really going on is unbelievable. The people who know the least, like the iphone kids selling at Best Buy are taking down a great platform.

BlackBerry will survive in the Corporate and Government Sectors! My Z10 is so much better than an iphone!

good. i would also expect a lawsuit for selling these phones when they pretty much know there will be no support. its a little more than buyer beware at this point. they started selling the phones off of that means they are tyring to get rid of their inventory. pretty soon all these devices are going to be EOL if not already DOA.

Wow. You really don't know what you are talking about. Whomever buys Blackberry will also inherent their obligations. Even if they were to sell out tomorrow and the buyer were to completely kill The BlackBerry OS and BlackBerry 10 they would still have to keep things running and honor their existing contracts and warranties. In The US that's 2 years in Canada that's 3. Even if they stopped development the phones will continue to work for at least 3 years

Posted via CB10

This feels like less of a class action suit, and more like an 8 year old throwing a tantrum. Doesn't take much to file this suit. Let's see where it goes. No one should be surprised, given the rampant uninformed conspiracy allegations thrown around for the last two weeks.

The execs at BlackBerry lied, lol. How did they know it was going to be this bad? Hmmmn, unless they sabotaged thier own company?. Well, the only one that really will benefit from getting canned is Thor. Sooooo, hmmmmm. More bad news, this sucks.

Posted via CB10

Could pretty much see that this would happen. And because of that, I'm guessing BBRY was/is already prepared for this.

Posted via CB10

Kevin! Long time no see! I know things suck right now and I know your the boss man but it would be nice to see you around a bit more.

Kevin is more than the EIC here. He's the Mobile Nations Senior Communications Officer. He's been busy with Talk Mobile stuff and the Editors Retreat among other things.

Posted via CB10

"Don't these phones look beautiful? " said Thorsten at the Z10 & Q10 keynote.

Now they can say "Don't these court documents look beautiful? "

What goes around, comes around.

Posted via CB10

Lmfao, I'm no law expert and I could tell this ish will fail,

It's like my dad bringing me to court because I said "I promise you I'll finish college and make you proud dad" he trusts me goes on to pay my tuition, then I drop out because of some unforseen circumstances.

Posted Via CB10 On The Brother Of Future Z30

Yh..ummm nun more than a metaphor actually, I'm still attending college ;) with a 4.0. Lol

Posted Via CB10 On The Brother Of Future Z30

Uhh I don't see this going very far. They are getting mad at someone because something didn't sell well?

Posted via CB10

Actually no, and trust me on this, they have a case. Somebody has been driving the value of BlackBerry down in purpose. Nobody, and I repeat that *nobody* is as incompetent as BlackBerry management and the board have made themselves out to be. Nobody. This entire thing was a giant ruse with a goal to kill off the company, probably for nothing more but personal payoff.

Posted via CB10

So that's what Thor meant when he said "the BlackBerry 10 devices are best in class they will sell millions run out and buy one " he was just trying to take the company down???? It's all so clear now (insert rolling eyes emoto here)

It doesn't matter what he says. It matters what he does. And the others are correct - BlackBerry's "incompetence" cannot be real. If they are truly this incompetent, they seriously need to close their doors.

Posted via CB10

I realize that it is difficult to be objective when your name is clearly a fanboy name. I'm probably much older than you and have been a staunch BlackBerry supporter for many, many years now, but you need to wake up and smell the coffee. This is *not* a coincidence. This level of incompetence requires intent.

And yes, this is typed from the best phone ever released, the BlackBerry Z10. Wonderful OS, wonderful hardware, ruined by someone's selfish ambitions. It has happened before and it will happen again.

What do you want to say now fanboy?

Posted via CB10