SOURCE: Levi & Korsinsky LLP

Levi & Korsinsky LLP

July 01, 2011 13:50 ET

Levi & Korsinsky Notifies Investors With Losses on Their Investment in Research In Motion Limited of Class Action Lawsuit and the July 12, 2011 Lead Plaintiff Deadline

NEW YORK, NY--(Marketwire - Jul 1, 2011) - Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Research In Motion Limited who purchased between December 16, 2010 and April 28, 2011.

To get more information, click here: http://zlk.9nl.com/research-motion/.

The complaint alleges that during the Class Period defendants violated federal securities laws by failing to adequately disclose that: (a) its product line and inability to introduce new products to the market was negatively impacting the Company's business and margins; (b) the Company's was unable to timely introduce new products, which were critical to the Company's ability to maintain its market share; (c) as the Company attempted to develop new products its resources became limited; (d) the Company experienced lower-than-expected Blackberry smartphone sales and shipments in the United States and Latin America; and (5) the Company relied on sales of older-model smartphones at lower retail price points than their newer, but delayed, products.

On April 28, 2011, RIMM reported disappointing guidance and financial results for the fourth quarter and fiscal year 2011 and, as a result, the share price of RIMM common stock dropped 14%.

If you are a member of the class and suffered a loss in RIMM stock, you have until July 12, 2011 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery is not affected by the decision whether or not to serve as a lead plaintiff. To obtain additional information about your rights, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (877) 363-5972, or visit http://www.zlk.com/research-in-motion-rimm.html.

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information

  • CONTACT:
    Levi & Korsinsky, LLP
    Joseph Levi, Esq.
    Eduard Korsinsky, Esq.
    30 Broad Street - 15th Floor
    New York, NY 10004
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (212) 363-7171
    www.zlk.com