Nokia
Mobile phone maker Nokia has said it will defend itself “vigorously” against a class action filed in New York alleging the firm misled investors.
The action, filed on Friday by the City of Roseville Employees’ Retirement System, claims Nokia failed to disclose facts about its financial position.
The investors claim they lost money between 24 January 2008 and 5 September 2008 as a result.
Nokia said the allegations were “without merit”.
Price cuts
The action, brought against Nokia and its chief executive Olli-Pekka Kallasvuo, former finance chief Richard Simonson and head of phone business Kai Oisamo, alleges that the defendants misled investors on three counts.
read full article: Nokia denies US allegations of misleading investors
news.bbc.co.uk
