RIM possibly facing lawsuit from shareholders
By Nigel Chew
10 July 2012 – RIM is likely facing legal action from its shareholders, of all things, over its optimism.
According to the New York Times, RIM head honcho, Thorsten Heins has previously defended the company even when it was reporting losses, with dropping revenue and job cuts worsening matters. Added, with the delay in the launch of BlackBerry 10 operating system, investors have finally pulled the trigger.
The challenge of course, would be for shareholders to prove how much of the delay was known when Heins made the comments, and if they were somehow misled by statements released by the company.
Either way, RIM is going to come under fire from shareholders at its AGM today.