BlackBerry seeking US and Canadian review of false return rate claims

By Adam Zeis on 12 Apr 2013 08:44 am EDT

Following up on yesterdays rumors of BlackBerry Z10 returns being higher than average, BlackBerry has stated that they will be looking into the reports and say the claims are completely false. Investment firm Detwiler Fenton had originally said that Z10 returns exceeded sales on numerous carriers. We reached out to the firm but they were unavailable for comment on the claims.

Thorsten Heins says sales of the Z10 "are meeting expectations" and that returns are "at or below our forecasts". There is nothing to show that returns of the Z10 are any greater than that of other premium devices.

BlackBerry Chief Legal Officer Steve Zipperstein said that BlackBerry will be taking action and presenting a formal request to US and Canadian regulators in the next few days. 

Press Release

WATERLOO, ONTARIO--(Marketwired - April 12, 2013) - BlackBerry® (NASDAQ: BBRY)(TSX: BB), a world leader in mobile communications, today said it would seek Securities and Exchange Commission and Ontario Securities Commission review of a false and misleading report about retail return rates for the Company's new BlackBerry Z10 smartphone.

"Sales of the BlackBerry® Z10 are meeting expectations and the data we have collected from our retail and carrier partners demonstrates that customers are satisfied with their devices," said BlackBerry President and CEO Thorsten Heins. "Return rate statistics show that we are at or below our forecasts and right in line with the industry. To suggest otherwise is either a gross misreading of the data or a willful manipulation. Such a conclusion is absolutely without basis and BlackBerry will not leave it unchallenged."

BlackBerry and Verizon Wireless, the largest U.S. carrier, on Thursday refuted claims from research and investment firm Detwiler Fenton that BlackBerry Z10 devices were being returned in unusually high numbers. Detwiler Fenton refused to make either its report to investors or its methodology available to BlackBerry, even after the Company said the firm's findings were "absolutely false."

BlackBerry Chief Legal Officer Steve Zipperstein said: "These materially false and misleading comments about device return rates in the United States harm BlackBerry and our shareholders, and we call upon the appropriate authorities in Canada and the United States to conduct an immediate investigation. Everyone is entitled to their opinion about the merits of the many competing products in the smartphone industry, but when false statements of material fact are deliberately purveyed for the purpose of influencing the markets a red line has been crossed."

Zipperstein said BlackBerry would present its formal request to U.S. and Canadian regulators in the next several days.


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Reader comments

BlackBerry seeking US and Canadian review of false return rate claims


It's funny how an investment firm is saying that 'returns are higher than sales'. That's like saying every Z10 sold was returned plus more.

Posted via CB10

"because sales may taper over time"

Except the device has only been on sale two weeks so it would be highly unlikely this data would be available, especially when Verizon recently had a 94% positive review on the device.

This analyst must be really dumb or really really desperate to have invented such garbage.

Way to go BlackBerry, blatant false misrepresentation like this should be smacked hard.

Mike posted via CB10

How do we know it's false? From what I read, it is being investigated. Also, the article in question said " in several cases, returns are now exceeding sales". What if investigators DO find several stores where this happened (which is quite possible)? Then what?

There's a difference between stating that that ONE or TWO stores in a certain area are exceeding sales with returns. It's completely different to paint it across the numerous thousands of other stores that may not be experiencing the same thing.

The story in question read like:
ITG analyst Joseph Fersedi, for one, claimed that the “U.S. launch of the Z10 started poorly and weakened significantly as the days passed,” and described overall sales as “marginally ahead of anemic.” Detwiler Fenton analyst Jeff Johnston, meanwhile, said that things were so bad for BlackBerry in the U.S. that “key retail partners have seen a significant increase in Z10 returns to the point where, in several cases, returns are now exceeding sales, a phenomenon we have never seen before.”

I guess the question is 'who are they referring to "key retail partners". Is this thousands of stores? I doubt it. Can it be two or three stores that they contacted? Yes. In that case, it validates the original article.

To me BBRY "Key Retail Partners" are AT&T, Verizon, Best Buy, etc. so they can't proof that a least one PARTNER overall (not one or ten stores) return of Z10 exceed sale they should be fine.

Think about it. You call 50 tmobile stores and 50 at&t stores. You get the floor manager on the phone who jokingly states he/she saw more returns than sales yesterday.

Is it misleading? Yes. Is it lying? No.

I'm not trying to beat a dead horse here. I'm really not. BUT- if you contact stores and a member of the staff offers inside information...I think it should represent "KEY PARTNERS". Are they official spokesmen/women of the retailer? No. Can their statements be used in an article? Yes.

As analyst, they must be held to higher standards. The investor places his trust in him/her to analyse data that will provide sufficient information as to the value of the company and their products. What is misleading here is that the report shows that customers who bought the phone earlier, are now returning them in droves. There must be something wrong with the phone then. If they reported data that ocured over a one day period only, that's misleading as the rest of the time they could be fewer returns.

So let's us wait for the investigation to conclude. If there are fined, I hope blackberry will bring the matter to the civil court for liabel and then win 10's of millions in damages

Posted via CB on my Z 10

You're arguing semantics. Your point also states the reason for the investigation. It is misleading, and depending on the situation it might not mean much, but in this case we're talking about "Facts" that directly influence stocks due to perceptions, sales (people who don't want to risk buying a phone that they might have to return), and the brand image. This is why there are rules.

Just to give you an example: look up the Advertising Standards Code. Rules don't just apply to false advertising, but also misleading statements, because while a company might not technically be lying, the underlying message is or can be grossly misconstrued. Likewise BlackBerry sees that happening in this situation and I think they have a valid claim.

They are making crap up to provide their clients, (or clients of clients who will make sure they are compensated after they have succeeded in driving down the share price), who have heavily invested themselves in BlackBerry on the short side an edge. This has been going on for a while now. Just enough negativity and doubt sown in an effort to blunt any possible positive upward momentum in BBRY. It doesn't matter if their claims later prove to be completely false since it will already have been widely reported as if it was true even into the mainstream news outlets who don't independently fact check any more. So the perception of the general public ends up based to some degree on these false reports. So they do their job even if later refuted successfully. This is the correct course for BlackBerry to take. They have to bring the threat of legal and lawsuit action to prevent the initial false report from being worth it any more for these "investment" houses.

From my sweet BB10 Neutrino powered Z10 :D

Because some have the figures (BB), Vierizon stated it false ... and on the other side we have a tiny financial office with nothing to back-up its assertion (and not the first penny to lead a significant field study). Chances are 90%-10% they extrapolated very local and insignificant figures ... at best.

It could be local and insignificant figures, and, if that is the case, it would be a shame if the article was written out of context. The problem is that it would be the readers discretion to determine how they perceive it. If the writer of the article found two or more sources that back up their claim (no matter how small), then there are no false statements in the article and I think they get by on technicality.

I could be wrong but I don't think they have started an investigation in order to find out whether or not it's false. BB knows it's false and they have started an investigation to find out where these lies are coming from.

The way I see it is that they are starting an investigation to prove it is false information. So, until the investigation is complete and the original sources are discredited, we do not know if this is in fact true. For now, all we have is the original article. My comment to the original poster was simply pointing out that we don't know if this is false or not.

The line "returns exceeding sales" should make it very clear there's some false information. If I have 10 lbs of coffee and sell you 5, you CAN NOT return more than 5, because you only bought 5. I don't care what store you point to, you can't return more than what's been sold.

The way I read it (and in keeping with your analogy):
You sold 10 lbs of coffee in week one. You sold 3 lbs of coffee in week two. 5 lbs of coffee that was purchased in week one was returned in week two. Hence, your returns exceeded your sales.

Well, sure! They happened to pick, oh, I don't know, March 5th and one store that had 5 out of 100 customers returning their Z10, and that store only sold 3 that day, then yes - only then does that statement make ANY sense. It's no longer false, just misleading.

BlackBerry had to fight back at this. I hope they go after all the other analysts that have been feeding the gullible American media misleading and false information too.

Posted via CB10

I filed one yesterday and the trolls on cb since there was no reason for it. I suggest others here file a complaint to the SEC.

Posted via CB10

Hell yeah great to see blackberry taking a stand and mot accepting this kind of misleading crap!!

Posted via CB10

Uh oh! The shorts thought they could fudge some numbers to protect their short interest. Didn't plan on Thorsten calling bullshit and getting gangster about it. Boom City!

Finally some balls from CEO, he did the right thing! Let the ANALysts and media fear the company and not the other way around.

Blackberry doesn't always sue analysts, but when they do, they murder them.

Honestly, when has BB launched and lost a lawsuit? They have lost some targeted at them for sure (about the BBX name, etc), but typically they are not sue happy, and when they go after someone, they tend to win.

I hope heins destroys the analyst and sues him..its incredible how analysts are trying to take BB down.. Heins is a beast!!

Posted via CB10

Detwiler Fenton refused to make either its report to investors or its methodology available to BlackBerry, even after the Company said the firm's findings were "absolutely false." lol

My guess is that in the next couple of days they are going to backtrack from their original claims the same way that a previous blogger backed away from claims that the Z10 failed the UK govt security test when presented with evidence to the contrary.

Posted via CB10 from my spectacular Z10

They can. But they don't have to. The SEC will do it for them if there's a case to answer.

The Securities and Exchange Commission in the USA isn't light weight when it comes to maintaining trust in the financial system.

If the analyst cannot substantiate his or her claim or provide other reasonable basis for their statements they're going to be in big trouble. The exact penalties would be decided by a court, but Section 9 violations can incur significant financial penalties (into the millions for both the analyst and his/her employer) and even jail time.

I truly believe its the right move by Thor. Perception could become believable especially in the U.S market. The stock market is beings manipulated by the shorts.

Posted via CB10

Get 'em BlackBerry! No more talk shit from these morons trying to sabotage your company!

Posted via Crackberry Z10

About time Thorsten, getting a little sick of all this bashing with no return fire. I don't advocate a company being as litigious as Apple, but this crap is getting ridiculous. Time to hit em where it hurts BlackBerry

Finally! i hope BB gives them a bitch slap and a half. Im sick of reading these BS articles that are meant to sheep the average shareholder.

Moving a stock 7% with volume well above the 3 month average on a potential lie does not go without an investigation and penalty. There are two people you generally do not want to p'off. The IRS and SEC.

If this is a flash claim, BlackBerry should strike back. It's like being smacked in the face.

Posted via CB10

Agreed. I believe these clowns thought they could get away with this BS and not suffer any consequences. So glad Thor decided to take a stand on this!!!!!

If the U.S. and Canadian regulators do prove influencing the markets I hope someone starts a class action suit that all of us investors can join. Be sweet to see Detwiler Fenton pay 581 million out.

I wonder how the market will react to this today. Almost afraid that it will be on the last page of the news where no one sees it.

Posted via CB10

More garbage from the so called experts, wow, somebody is getting scared of BlackBerry and making up more bull, I love my Z10, gave up my iPhone and have never been an iSheep. Anyway, there was already a so called expert who got caught in a lie about the Z10 and retracted his false claim. This garbage to me says that BlackBerry is making a huge come back and someone is trying to stop it before it starts. Kick ass BlackBerry

Posted via CB10

Too right BlackBerry should be fighting back against the constant barrage of bull crap being flung its way. Too many articles on a daily basis slating the company and the phones and i'm sick of it. I have the Z10 and I have shown it to 5 interested people - 3 of which have made the change and the other 2 are contemplating it.

I'm so happy that Blackberry finally stood up to this garbage and nonsense. After reading this article, it shows that Blackberry is not going put up with any more bulsh@t, that was the last straw. The shorts are really trying to manipulate the stock price and this should be illegal plus the flat out false misinformation that have no factual validity, and in turn which defames a company's image and product. Sue the Bastards and let them lose everything they have financially including their jobs. I would like to see some prison time will make analysts think twice about reporting this type of garbage against blackberry. I think they will win this one!

Until BBRY starts reporting the true number of devices sold, they will be always succeptible to such rumours. If they had solid grounds to stand on, they would sue the analyst; however, to do so, they must reveal their numbers and "expectations." They don't want to do that, hence no lawsuit. The rest is "corporate puffery."

They don't HAVE to. But one (investing related company) CANNOT spread "information" pretending it's based on a "study" and alleging fables. Action is 100% receivable, while the juridic results will probably be near to zero. But it worth a strong statement, far much than the previous "meet our expectation" witch, basically, means nothing to suspicious minds.
(caps for bold, no shouting ;)

Well, they don't have to report numbers or sue, but they are in such a weakened position right now and so succeptible to these rumours, that they need to set a precedent. Find a bug and squish it, or be open about the numbers and expectations and let the chips fall where they may. Unofrtunately, BBRY now and before, have never been known to my mind (either the board or the CEOs) as having sound judgment when it comes to legal matters (e.g. patent wars, the hockey fiasco) Their only legal victory that comes to mind which was in the news was recently they won a dismissal of a spec class action lawsuit regarding the drop in value of the shares. But even in winning the dismissal, they again somehow managed to look bad, as the judge did not have anything positive to say about their management.

I understand where you are coming from, but look at it from BBRYs point of view. If they reported their numbers now, it would probably get turned around on them in a negative way being "too low" or "nowhere near the amount Apple could sell" or some other crap like that. The Z10 hasn't even been out for a month yet in the US. I'm just glad they're taking a stand about rumors like this.

And that's why this action is brilliant. Some numbers will necessarily pop, as customer satisfaction, for instance ...

Funny, I knew something was up last night when at 3 am, Detwiler's website was down. Obviously, they were purging and cleaning trying to deal with the fallout from a bogus report. Who wants to bet that their tech analyst will resign in the next month to send more time with his family. Crush them.

Gawd I hate that "spending more time with family" excuse. You hit that nail on the head.

Jailtime would be useful for scum like that.

FYI, another OP just reported that the analyst's name has been removed from the company website along with Linked In. My previous guess of a month appears to have been greatly exaggerated. The bus is running over him as we speak. LOL

The analyst who broke this story was interviewed on Canadian tv network BNN yesterday. He avoided specifics when probed but claimed the stock was worth $11 to $12 dollars.

Yeah! It seems that everyday there's a new, false rumor going around meant to hurt BlackBerry. It's time the company start taking action against those who begin and spread these claims.

Posted via CB10

What I find most disturbing about the spreading of false information and rumours by analysts, bloggers, etc.--is that it gets repeated and reblogged to death. If you had googled anything BlackBerry, many of the top results were postings by rumormongers. Their handywork then got spread around the Internet. Anyone interested in the new BB10 would have been bombarded with negativity. Those responsible for advising shareholders were actually advising the consumers, thus affecting the market itself.

I love it! This is the new BlackBerry and I like the fact that they are now going after these so called analysts whose only purpose is to distort information in order to benefit their crappy Apple products. Good job BlackBerry you have to be aggressive.

Posted via CB10

Investment "Anal" lysts
Do you really trust someone that's gambling with your money?

Posted via CB10

WSJ first reported this mess are we at least bit surprised? Rupert Murdoch has a long history of reporting down right false information. The fact that BlackBerry is fighting back and refusing to let lies go unchecked is wonderful.

The WSJ has been very negative on Blackberry recently. As is Yahoo. Yahoo seems to cherry-pick the negative stuff about BBRY (both on their financial and news pages) and "forget to publish" any of the positive news.

sue them till they beg 4 mercy and then di6s]tribute the money to the the shareholdrs that have been effected by thisobviousmanipulation from the hedge funds and their scumbag shorts

As an iPhone user , its about time blackberry is fighting back. I reserved my Q10 about a month ago with Rogers and cant wait to get my hands on it. Miss the keyboard and the notification light. Though, i still love the iPhone. LOL

Hang them by the bills once and for all. I've known all along since mid February BBRY stock was being manipulated without real facts. Everywhere else in the world were selling the Z10 plain and simple

Very nice! Now how about going after all of those companies who promised apps for BlackBerry 10!

Posted via CB10

They are starting these rumors because they are scared. Glad to see BB is standing up for themselves.

Posted via my BlackBerry Z10

Well its apparent another organization knows nothing about blackberry sales and or returns. Do they own blackberry, nope. Do they have every carriers phone number to call and provide solid sales and returns, Nope as this info is only disclosed to the manufacturer/production company = Blackberry.

Wow more BS in the Bashing blackberry once again.

CEO Heins I would look into suing such individuals or companies that bash this company, maybe this will stop some off the BS if not all, get an injunction against all places to not post information unless it is REPORTED by Blackberry themselves.

if someone doesnt want to create an app 4 blackberry there is nothing anyone can do about that,and if 130k apps and counting is not enough 4 u,then get a life!u loser

What are the qualifications to become an "analyst"? Morons like this guy can write anything.
Fight back blackberry.

BBN (Canadian Business channel) has just reported this story in detail. They pointed out that the Johnson report carries a fine print addendum to the effect that DW obtained their numbers from third party and that they (DW) had no reason to doubt their accuracy :) The journalist called this "boiler-plating"
Let the games begin. Should not Crackberry, a bona fide media, contact the DW media person (details on their website) for clarification ??

Get 'Em!!!!!!!! Great decision by Thor don't take this BS, hold these liars accountable for the outlandish lies let's go #TeamBlackBerry

Posted via CB10 on my Z10

i returned my z10. why, because no push ( my work servers do have it ) lack of a few apps i would want. in addition i have been a loyal bb person since my first 8700 i dont know how many years ago and just felt this is what i have been waiting for? the hub? my bb bold has the main inbox. i know i am rambling just disappointed with the z10 as a whole

i went to verizon and they could nnot get it to push. they told me only if my servers do it. i had it for 8 days and my old reliable bb bold i didnt have to do anything to get push. and thats why i went back to my bold.

I have had my Z10 since early February and it does push email. On what basis are you using to say that it doesn't?

Posted via CB10 from my spectacular Z10

I effing LOVE this! Put a couple of these shady shorters out of business. Expect applause from shareholders, Thor!

Right thing to do but BBRY should come out to talk about its US sales in view that it has mentioned about UK and Canada. If you remain silent, there will be serious speculations going around

This is great to see them fight back. Wish this would have started a long time ago

Posted via CB10 on my Z10

BBRY HAD to take this action or the pain would have escalated. It's past time. They need to be much more aggressive going forward and then these analysis, bloggers and news outlets will be much more leery about publishing something negative and might do their due diligent checks before posting something. Ultimately, it would be helpful to know what sell through is. This would allow the stock price to adjust to where it should be and stop all the nonsense speculation.

I also love how Verizon is going to bat for Blackberry on this issue. The idiot-alysts can't accuse BBRY of making this cr*p up.

Glad to hear BBerry fighting back. Also glad to hear Verizon is sticking up for them (even though I haven't seen any specifics on that).

The analyst must have called 2 stores that were sold out of the Z10 (so they had none left to sell) and took in a return and thought "great now I can twist this data to tell the world that returns exceed sales."

"To suggest otherwise is either a gross misreading of the data or a willful manipulation. Such a conclusion is absolutely without basis and BlackBerry will not leave it unchallenged."

So glad that Thor has had enough with false media and analyst reports and that BBRY is putting such organizations on notice that they are prepared to take legal action!

Posted via CB10

Yeah baby! Show them thunder Thor!
Blackberry has handled all this cr@p with an admirable, quiet, dignity and grace for so long.
There are times when you just have to get medieval with them beatches!
"Revenge is a dish best served cold"

Who's the reporter from Detwiler Fenton that started this? Hope Thor, the BBRY Superhero CEO, pays him a vist and slap him silly. Haha.

About damn time BBRY stood its ground.

Leave it to short-sellers, who contribute absolutely nothing to society already, to do something that contributes negatively.

I'd like to know who's making all the extra BlackBerry's that are being returned? If the returns are greater than sales there must be a counterfeit ring out there somewhere. LOL.
Ultimately, I find it untenable that the U.S taxpayers bailed out these Wall Street bastards just so they could get right back to business as usual!?!? Shit like this makes a mockery of the so called "Free enterprise " system that seems to be evolving toward a "Rigged for few" system that serves only to line the pockets of the few avaricious, unethical traders that minimize the risk by propagating rumors and innuendo.

Posted via CB10

Cmon people we explain numerous times what this means, its rates of returns that they claimed were higher than rates of sales. Not numbers of return vs numbers of sales

Posted via CB10

Those who return, honestly can use the phone. The Z10 is too high tech for them. :) I remember when I first got my PlayBook, I was like woo woo woo, I didn't know where to start from. lol Now I am an expert on it.

Go go team bbry... fight it out in the courts rather than letting this crappy little company knock u dwn by damaging ur highly built reputation...

It's taken almost 10 yrs to bring great phones out and build a great reputation amongst its target audience and along comes a leech and sucks the reputation out of u in less than a day...

Who do these little start up companies think they are...

Posted via CB10

As for being a Verizon customer for over 10 years.

I have returned many Blackberry because they are refurbished junk phones. Verizon makes you pay for a new phone on new contracts and when that phone starts to act up (bugs, lagging, dropping calls, etc etc) They will take that NEW cell you purchased and give you a refurbished cell phone. Yet that refubished phone is no longer NEW. Its like saying a car that was in an accident with out claiming it was a salvage title.

It may or may not be true. However I have experience bad phones from Verizon. I love Blackberry and will continue to support but Verizon needs to change there ways and give us news phones if they are messing up. Some phones yes were bricks right out of the box. So were the refurbished ones too.

Currently using my Blackberry Torch 9850 and I am running an OS that is 3 updates down because if I update my cell it will screw up my speaker phone and it wont work? is that a Verizon issue or Blackberry?

Anyways I have reported it to both companies and NO one has solution. Yet my cell is barely 2 years old since release and it started 6 months after my purchase date? Is that what I should expect from Verizon or Blackberry? I like new phones...but I dont need a new one if it would just work properly!

Nuff said...

i got bullied for using blackberry, but when zed10 arrived in my hands, i showed it to all my friends who bullied me, some says blackberry or rim got bankrupt, thats a very harsh statement for me, and now its my tme to show that blackberry got balls, go blackberry and shut down their ass,

Maybe all the returns are from these damned sudden random reboots. I'm seriously considering returning mine and getting my iPhone back.

Seriously, BlackBerry, what can't we fix this? Wasn't there product testing before you put this out??.

Posted via CB10

BlackBerry need their own stores, that way they control the user buying experience. A misstep that can be rectified sooner rather than later

Posted via CB10

Finally these ppl are getting called out, SEC formal investigation is rough, if there is anything shady going on, these guys will get caught.

Posted via CB10

Violating the 33, and or 34 act can result in jail time, I will definitely follow this to see how it plays out

Posted via CB10

I'm happy to see the majority or with bbry going against this type of Total BS, this type of analysts don't do anything good for the society. They are the same ones that were responsible for the crash at wall street years ago.

Posted via CB10

Didn't even read the post just wanted to comment saying that is an attractive woman in the picture holding her Z10. What's her pin? Lol pin:24F0E1AB

Posted via CB10

Talk about making an example of something/someone.

THIS, ladies and gentlemen is the perfect opportunity for BlackBerry to strike back and set an example for future idiots who talk crap with a goal to manipulate the stock with false information.

Seriously, crush them.

Posted via CB10

About time...that's the only thing people in the USA understand...not decency, not objectivity, not respect. they only understand a big stick.
Next investigate John paczkowski from all things digital and Eric numb nuts from Forbes

Posted via CB10

Good! Love to see they are pushing back against the garbage speculators. Keep this up and maybe other analysts may think twice before spouting out false information.

Posted via CB10

This Detwiler/Fenton Group is another one of those institutions that the world does not need. They are as useful as hemorrhoids. They just get paid a bunch of money for uneducated and biased garbage phrases. If they would just go down in flames, that would make the world a better place.

I returned my VZW Z10 and re-purchased it, so that VZW could restore my unlimited data plan by way of an alternate upgrade + ESN swap.

Sadly, my (and any others who did the same thing) return still counted as a return.. even tho I re-purchased it immediately after returning it.

I am so tired of these thugs trying to bring down BlackBerry... I love my Z10 and I wish I could get a Q10 as well. I only wish all the best for this great company!!!

Article on yahoo finance from Reuters says Detailer has been fined 250,000 dollars in the past for infractions.

By Euan Rocha and Emily Flitter

BlackBerry to ask regulators to probe report on returns

Posted via CB10

I am sorry to be condescending but most of you have no idea what you are talking about. Detwiler is a registered investment research firm. It is held at a much higher accountability than blogs, articles, messages etc. If you see the timeline, this was a well co-ordinated attack on Blackberry and Detwiler went a bit too far and crossed the line. Now the analyst and the firm will pay dearly for what they did... unless SEC investigators/prosecutors get paid off under the table (or promised lucrative jobs once they leave the govt job) or political connections used. If the return rates overall is not very high, Detwiler is guilty as charged. If it was Eric Savitz (a well known BBRY basher and a paid hack of short-sellers) saying it, who cares but this is INVESTMENT RESEARCH FIRM, they cannot play with words.

I am amused at how people are slicing and dicing the statement.... yes the judge/jury will slice and dice it but that will be Detwiler's defense and they will lose. If prosecutors are honest, they will find the conspiracy and kickback schemes here.

Below is very interesting...!!!

Analyst Certification
The authors of Detwiler Fenton & Co. research certify that the views expressed in research comments, reports, and emails accurately reflect their own personal views about the securities mentioned and are based on sources believed to be reliable. No part of an analyst's compensation was, is, or will be directly related to the specific views contained in research comments, reports, and/or emails. A portion of an analyst's compensation is from a deferred bonus pool, which is derived from transactional-based revenues.

I would sue that firm for spilling bogus on BlackBerry like that. BlackBerry put these wall street mooches to bed. We need to intimidate wall street so they don't keep this up.

Posted via CB10

There are also share holder that are damaged by these false reports. I do wonder if there are grounds for filing a class action law suit against this Investment firm Detwiler Fenton.

This suit will not be launched by BlackBerry and all proceeds will be used for charity and to promote the BlackBerry devices on reputable press channels.

I for one would love to be part of the class action lawsuit against that ANALyst Johnson and the firm he works for Detwiler. I lost a lot of money because of that ASSHOLE and his BS report. All I hear is good comments about BB10 from every source I looked at. For example, at AT&T, Verizon, T-Mobile, Bell Canada, Rogers, etc... just to name a few. Of course there are a couple not so good comment too but that is like maybe 1 out of 50 comments I read.

Posted via CB10

Let's wait for the dust to settle. If BB is pushing U.S. Officials at SEC they're lost. The language conveyed in the stories I read although not positive didn't indicate a definitive red flag based on statistical analysis. This is in the same league as advertising puffery... the only legitimate cause of action might arise from a conflict if interest if it can be shown a client had shorted the stock abs that the analyst knrw.

At best, the SEC might give a hand slap fine but the burden of proof, frankly, might end up embarrassing BB. No, the SEC is impotent when it comes to seeking criminal prosecution and had enough problems meting out effective civil penalties.

Was BB contacted first?! Yes or No? If yes, then BB likely has no cause ... barring outright having told the analyst returns are nominal, or much better than expected. If No, then what are the real statistics. BB could more or less release their estimate as of 4/12 instead of saying similar to other smart phones and as expected. And NO, no action lies for a class action. If sales are legit atassor November forecast, the share price will

Rather than go into more legal complexities, hopefully BB will focus on their new OS and X/Q phones. Neither BlackBerry nor CB are in budinessIt's probably an ok strategy for BB to make some press by announcing there insistance on an investigation to regain favorable press. But I have bigger questions about where their contingency plan is was? You dont

Posted via CB10

I guess both apple and Samsung may be doing this by sponsoring this BS in the media. Don't think it us some shareholders are doing this. This is a shame for research firms to this dirty reporting for the sake of money. If they do not have or get business the right way, they should wind up. Go BlackBerry and sue them to shut them off.

Posted via CB10