Research In Motion Under Investigation for Potential Federal Securities Law Violations
RIM has announced today that law firm Holzer Holzer & Fistel, LLC has launched an investigation for possible federal securities law violations. The firm claims that RIM had made false and misleading statements regarding some aspects of their business. The main focus of the investigation is if RIM knew but failed to disclose that they were having issues that were negatively impacting their margins and overall business. The statements were said to be made between December 16, 2010 and April 28, 2011. There are no other details for now but we'll see how this all pans out in the coming days. Only fair to note however, Holzer Holzer & Fistel, LLC pulled the same actions against Palm before HP acquired them.