SOURCE: Brower Piven, A Professional Corporation

February 01, 2010 11:31 ET

Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in Motorola, Inc. to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the March 22, 2010 Lead Plaintiff Deadline

STEVENSON, MD--(Marketwire - February 1, 2010) - Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of Illinois on behalf of purchasers of the common stock of Motorola, Inc. ("Motorola" or the "Company") (NYSE: MOT) during the period between December 6, 2007 and January 22, 2008, inclusive (the "Class Period").

No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than March 22, 2010 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You are not required to have sold your shares to seek damages or to serve as a Lead Plaintiff. You may contact Brower Piven (through hoffman@browerpiven.com or 410/415-6616) to answer any questions you may have in that regard.

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the Company's intentionally and knowingly misstating the 2007 fourth quarter earnings projections and sales demands for the RAZR2 during the 2007 holiday shopping season by virtue of the fact that the RAZR2 was not attracting buyers in 2007 because it had not improved enough from the RAZR to earn the $299 price tag. According to the complaint, numerous positive statements were made by Defendants while Motorola was losing significant market share to competitors. The complaint also alleges that after the Company issued a press release on January 22, 2008 reporting their fourth quarter 2007 financial results, held an earnings conference where the senior executives admitted that they knew the demand for the RAZR2 was lacking as early as Thanksgiving 2007, and downgraded their first quarter 2008 earnings guidance, the value of Motorola's stock declined significantly.

If you have suffered a net loss for all transactions in Motorola, Inc. common stock during the Class Period, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at hoffman@browerpiven.com, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 40 years. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.

Contact Information

  • CONTACT:
    Charles J. Piven
    Brower Piven, A Professional Corporation
    Stevenson, Maryland
    410/415-6616
    Email Contact