BlackBerry faces allegations of illegally inflated stock price

Investor Martin Perlman has filed a proposed class action suit in U.S. federal court

Fresh off a complicated sale to Canadian investors and a falling stock price, cell phone manufacturer BlackBerry Ltd. is facing some trouble once again. This time, though, it’s not to untangle the web of regulatory actions or revamp its financial strategy. It’s to fight off litigation from an investor who claims the company purposefully made false and misleading statements about its prospects.

Investor Martin Perlman filed a proposed class action lawsuit in U.S. federal court on Oct. 3, claiming BlackBerry CEO Thorsten Heins and CFO Brian Bidulka schemed to deliberately deceive investors concerning the company’s health and potential sales of the company’s BlackBerry 10 line of phones.

Assistant Editor

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Zach Warren

Zach Warren is Assistant Editor of InsideCounsel magazine, where he oversees online content submissions and administers InsideCounsel's enewsletters. Zach specializes in new media and multimedia...

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