Civil Plaintiff
BlackBerry Agrees to a $165 Settlement Over the BlackBerry 10
BlackBerry said on Thursday it had agreed to pay $165 million to settle a more than eight-year-old class action lawsuit brought against it for allegedly defrauding shareholders by exaggerating BlackBerry 10 smartphone’s success and profitability.
Under the agreement, which requires a judge’s approval, the payment will be made to settle claims brought on behalf of those who bought the company’s shares between March 28, 2013 and Sept. 20, 2013.
Reuters reported on Wednesday that the company was planning to settle the lawsuit to avoid trial in the United States.
