All the latest UK technology news, reviews and analysis


Nokia faces shareholder suit over Lumia 900 rebate

05 May 2012
Nokia Lumia 900 smartphone

Nokia has become the target of a shareholder lawsuit over the company's handling of its Lumia 900 smartphone release.

Shareholder Robert Chmielinski is asking a US district court in New York to conduct a jury trial to determine whether the company deceived shareholders in the run-up to the handset's release and its immediate aftermath.

The filing claims that the company misrepresented its readiness for the release and overstated how well the retail launch had gone.

Released in late April, the Lumia 900 had received a strong reception in the US, with high demand causing product shortages in some locations and helping to push the UK release of the handset to 14 May.

But a glitch with the Windows Phone operating system led the company to issue $100 rebates to users in the US and, according to the suit, drive down the company's share values. The suit claims the company knew of the software issue prior to the release.

"Statements... were materially false and misleading because Nokia’s migration to a Windows platform was not going as well as represented," the filing (PDF) reads.

"The Lumia 900 had a glitch which forced Nokia to offer a $100 credit and earlier Lumia offerings were not as well accepted as represented."

Nokia said in a statement that it was aware of the filing and would be contesting the suit.

"Nokia is reviewing the allegations contained in the complaint and believes that they are without merit," the company said.

"Nokia will defend itself against the complaint."

  • Comment  
  • Tweet  
  • Google plus  
  • Facebook  
  • LinkedIn  
  • Stumble Upon  
Shaun Nichols
About

Shaun Nichols is the US correspondent for V3.co.uk. He has been with the company since 2006, originally joining as a news intern at the site's San Francisco offices.

More on Mobile Software
What do you think?
blog comments powered by Disqus
Poll

BYOD vs CYOD vs BYOC poll

Which approach is your firm taking to managing employees' mobile devices?
20%
14%
4%
20%
30%
12%

Popular Threads

Powered by Disqus
Galaxy S5 vs One M8 video review

Galaxy S5 vs HTC One M8 video review

We see which Android contender is best for business

Updating your subscription status Loading
Newsletters

Get the latest news (daily or weekly) direct to your inbox with V3 newsletters.

newsletter sign-up button
hpv33

Data protection: the key challenges

Deduplication is a foundational technology for efficient backup and recovery

rdc2

iPad makes its mark in the enterprise

The iPad can become a supercharged unified communications endpoint, allowing users to enhance their productivity

Senior PHP Developer - OOP - MVC - Fantastic benefits! - £45K - Didcot

Senior PHP Developer - OOP - MVC - Fantastic benefits...

Scientific Software Engineer - C#.NET WPF - Image Analysis

Scientific Software Engineer / Programmer / Developer...

IT Helpdesk Support Analyst - West London

IT Helpdesk Support Analyst - West London (Chiswick...

Junior/Mid-Wieght PHP Developer - Symphony2 - Lond

Junior/Mid-Wieght PHP Developer - Symphony2 - London...
To send to more than one email address, simply separate each address with a comma.