Pearlstein et al. v. BlackBerry Ltd. et al.
BlackBerry US Securities Litigation
Case No. 1:13-cv-07060-CM-KHP

Welcome to the BlackBerry US Securities Litigation Website

The information contained on this website is only a summary of the information presented in more detail in the Notice of Pendency of Class Action. Because this website is just a summary, you should review the Notice for additional details.

Summary of the Action

The Class Representatives in this action are Todd Cox and Mary Dinzik, whom the Court has appointed to represent the Class.

The Defendants in this action are officers and directors of BlackBerry, members of their immediate families and their legal representatives, heirs, successors, or assigns, and any entity in which any of Defendants have or had a controlling interest (collectively, the “Defendants”.)

Plaintiffs claim that Defendants made a series of materially false and misleading statements and omissions concerning BlackBerry’s then new BlackBerry 10 smartphones (“BB10s”) during the Class Period. In particular, Plaintiffs allege that Defendants misrepresented and omitted material information concerning the poor customer acceptance, high returns, sales and demand for the BB10s and misrepresented and obfuscated those facts by using an improper accounting method for revenue recognition in BlackBerry’s publicly issued documents and filings with the SEC. Plaintiffs allege the full truth regarding the failure of the BB10 as a commercially viable product was not revealed until September 20, 2013, and that, as a result, Defendants misstatements and omissions artificially maintained the price of BlackBerry’ common stock or otherwise prevented it from falling over the courts of the Class Period, causing investors to purchase BlackBerry common stock at artificially inflated prices, and causing investors damages when the stock price dropped as the truth regarding the commercial failure of the BB10 was revealed throughout the Class Period. Plaintiffs claim that the alleged misrepresentations and omissions violated the antifraud provision of the Unites States federal securities laws and caused damages to BlackBerry class members who purchased or otherwise acquired BlackBerry common stock between March 28, 2013 and September 20, 2013. The Defendants deny that they did anything wrong. They assert that none of the Defendants made any materially misleading statements or omissions during the Class Period and that they are not liable for any investment losses of Plaintiffs or any other Class Member based on Plaintiffs’ allegations.

The certified Class consists of:

All persons or entities that purchased or otherwise acquired the common stock of BlackBerry Limited (“BlackBerry”) on the NASDAQ (ticker “BBRY”) during a Class Period from March 28, 2013, through and including September 20, 2013 (the “Class”).

The Notice is not an admission by Defendants or an expression of any opinion of the Court concerning the merits of the Action, or a finding by the Court that the claims asserted by Plaintiffs in this case are valid. The Notice is intended solely to advise you of the pendency of the Action and of your rights in connection with it. There is no settlement or monetary recovery at this time.

 

YOUR LEGAL RIGHTS AND OPTIONS IN THIS LAWSUIT:
DO NOTHING Stay in this lawsuit. Await the outcome. Give up certain rights.
If you choose to remain a Class Member, you do not need to do anything at this time other than to retain your documentation reflecting your transactions in BlackBerry common stock as in the Notice. You will automatically be included in the Class. If you choose to remain a Class Member, you will be bound by all past, present, and future orders and judgments in the Action, whether favorable or unfavorable. If any money is awarded to the Class, either through a settlement with the Defendants or a judgment of the Court, you may be eligible to receive a share of that award. However, if you remain a Class Member, you may not pursue a lawsuit on your own behalf with regard to any of the issues in this Action.
ASK TO BE EXCLUDED Get out of this lawsuit. Get no benefits from it. Keep rights.
If you choose to be excluded from the Class, you will not be bound by any judgment in this Action, nor will you be eligible to share in any recovery that might be obtained in this Action. If you choose to be excluded, or in other words, opt out of the Action, you may individually pursue any legal rights that you may have against any of the Defendants. Please note that if you exclude yourself from the Class in order to pursue your own action individually, you may be barred from pursuing certain claims, including federal securities law claims, due to the expiration of certain applicable statutes of repose. You may wish to consult with your own counsel before deciding to request exclusion from the Class. To be effective, your Request for exclusion must be postmarked no later than December 7, 2021.

 

How do I obtain more information?

Detailed information about the Lawsuit is contained in the Notice available for download on the Important Documents page on this website. Additional information can also be obtained by contacting the Notice Administrator by calling toll-free 1-888-691-2864 or emailing Info@BlackberryUSSecuritiesLitigation.com or mailing a letter to:

BlackBerry US Securities Litigation
c/o JND Legal Administration
P.O. Box 91399
Seattle, WA 98111

 

Inquiries should NOT be directed to the Court or the Clerk of the Court.

 

For More Information

Visit this website often to get the most up-to-date information.

Mail
BlackBerry US Securities Litigation
c/o JND Legal Administration
P.O. Box 91399
Seattle, WA 98111