Nokia Corporation : American Depositary Shares Securities Litigation

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Lawsuit Overview

Defendant:Nokia Corporation
Date Filed:April 19th, 2019
Industry:Radio And Television Broadcasting And Communications Equipment
Class Start Date:April 15th, 2015
Class End Date:March 21st, 2019

According to the Complaint, Nokia is a network and technology company that provides hardware, software, and services for telecommunications operators and enterprises and provides fixed networking solutions. In November 2016, Nokia closed its acquisition of Alcatel-Lucent, a company that offers fixed, IP, optical applications and analytics technologies. Nokia and Alcatel-Lucent have been operating as a combined company since January 2016.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, the Complaint alleges Defendants failed to disclose to investors: (1) that Alcatel-Lucent had certain compliance issues; (2) that, as a result, the Company would be subject to regulatory scrutiny; (3) that, as a result, the Company was reasonably likely to face penalties and fines; and (4) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

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First Identified Complaint

Tanner Tom, et al. v. Nokia Corporation, et al.

Date Filed:April 19th, 2019
Class Period Start:October 25th, 2018
Class Period End:March 21st, 2019
First Identified Complaint Filings
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