SOURCE: Izard Nobel LLP

May 27, 2011 16:40 ET

Izard Nobel LLP Announces Class Action Lawsuit Against Research in Motion Limited

WEST HARTFORD, CT--(Marketwire - May 27, 2011) - The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Southern District of New York on behalf of purchasers of the common stock of Research In Motion Limited ("RIM" or the "Company") (NASDAQ: RIMM) between December 16, 2010 and April 28, 2011, inclusive (the "Class Period").

The Complaint charges RIM and certain of its officers and directors violated federal securities laws by failing to disclose material adverse facts about the Company's true financial condition, business and prospects. Specifically, the Complaint alleges that: (i) RIM failed to inform investors that its aging product line and inability to introduce new products to the market was negatively impacting the Company's business and margins; (ii) due to execution issues, product delays, and lackluster product launches, defendants knew that shipments of BlackBerry smart phones would be down and inventory would be up; and (iii) as a result of the foregoing, defendants' statements regarding the Company's financial performance and expected earnings were false and misleading and lacked a reasonable basis when made.

On April 28, 2011, RIM issued a press release disclosing lowered first quarter 2012 guidance for the three months ended May 28, 2011. On this news, RIM's common stock fell 14%, or $7.94, to close at $48.65 per share on April 29, 2011.

If you are a member of the class, you may, no later than July 25, 2011, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit:, or contact Izard Nobel LLP toll-free: (800)797-5499, or by e-mail: For more information about class action cases in general, please visit our website:

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