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

Frequently Asked Questions


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  • To qualify for a payment, you must have sent in a Proof of Claim and Release Form (“Claim Form”) or completed your submission online. A copy of the claim form can be found on the Important Documents tab of this website. 

    Please note that the Claims Filing Deadline has now passed. 

  • The Court held a hearing on September 29, 2022, and granted full and final approval of the Settlement. Resolving appeals can take time, perhaps more than a year. It also takes time for all the Claim Forms to be processed.

  • Unless you have specifically excluded yourself, you will be treated as a member of this Class Action. This means that upon the Effective Date, you will relinquish all Released Claims against the Released Defendant Parties.

    “Released Claims” means all claims (including but not limited to Unknown Claims), demands, losses, rights, liabilities, suits, debts, obligations, damages, judgments, matters, issues, and causes of action of any nature and description whatsoever, in law, equity, or otherwise, whether accrued or unaccrued, fixed or contingent, liquidated or unliquidated, direct or indirect, known or unknown, whether arising under federal, state, local, statutory, common law, foreign law, or any other law, rule, or regulation, whether class and/or individual in nature that have been or could have been asserted in the Action or could in the future be asserted in any forum, whether foreign or domestic, by Plaintiffs, any member of the Class, or their successors, assigns, executors, administrators, representatives, attorneys and agents, whether brought directly, indirectly, or derivatively against any of the Released Defendant Parties, which arise out of, are based on, or relate in any way to, directly or indirectly, any of the allegations, acts, transactions, facts, events, matters, occurrences, disclosures, statements, filings, events, representations or omissions involved, set forth, alleged or referred to in the Action, or which could have been alleged in the Action, including but not limited to the allegations, transactions, facts, matters, occurrences, disclosures, statements, filings, representations, events, or omissions that Plaintiffs or any other Class Member asserted in the Complaint, and which arise out of, are based upon, or relate in any way, directly or indirectly, to the purchase, acquisition, transfer, holding, ownership, disposition or sale of BlackBerry common stock, by any members of the Class during the Class Period, and/or any disclosures, public filings, registration statements, or other statements by BlackBerry or any Defendant based upon or arising out of any facts, matters, allegations, transactions, events, disclosures, statements, acts or omissions that were asserted or could have been asserted in this Action or in any other action or forum, whether arising under federal, state, common or foreign law.

    “Released Defendant Parties” means Defendant BlackBerry, its past, present and future direct and indirect parent entities, parent corporations, sister corporations, subsidiaries, related entities and affiliates, and, as applicable, their respective past and present general partners, limited partners, principals, shareholders, investors (however denominated), joint ventures, members, officers (including the Individual Defendants), directors, managers, managing directors, supervisors, employees, contractors, servants, consultants, auditors, accountants, financial advisors, professional advisors, investment bankers, representatives, insurers, trustees, trustors, agents, attorneys, legal representatives, professionals, predecessors, successors, assigns, assignors, legatees, devisees, estates, settlors, beneficiaries, heirs, executors, successors-in-interest, administrators, and any controlling person thereof.

    The “Effective Date” will occur when an order entered by the Court approving the Settlement becomes final and not subject to appeal.

    If you remain a Member of the Class, all of the Court’s orders will apply to you and legally bind you.

  • The Exclusion Deadline has passed. 

  • No. Unless you excluded yourself, you gave up any rights to sue Defendant BlackBerry and the other Released Defendant Parties for any and all Released Claims. If you excluded yourself from the Class, you may not be able to pursue certain claims due to the expiration of certain applicable statutes of repose

  • No.

  • The judgment of the Court will be binding upon you if you do nothing. You will get no money from this Settlement and you will be precluded from starting a lawsuit, continuing with a lawsuit, or being part of any other lawsuit against Defendant BlackBerry and the other Released Defendant Parties about the Released Claims in this case, ever again. To share in the Net Settlement Fund, you must have submitted a Claim Form (see Question "How Can I Get a Payment?" above). To start, continue, or be a part of any other lawsuit against Defendant BlackBerry and the other Released Defendant Parties about the Released Claims in this case, you must have excluded yourself from this Class (see Question "How Do I Exclude Myself From the Proposed Settlement?" above).

  • The Court ordered that Lead Counsel Kahn Swick & Foti, LLC (“KSF”) and Brower Piven, A Professional Corporation (“Brower Piven”) represent all Class Members. The Court also approved Beck Redden LLP (“Beck Redden”) to serve the Class as Additional Trial Counsel. Collectively, these firms are called Plaintiffs’ Counsel. You will not be separately charged for these lawyers. The Court will determine the amount of Plaintiffs’ Counsel’s fees and expenses, which will be paid from the gross Settlement Fund. If you want to be represented by your own lawyer, you may hire one at your own expense.

  • The Court has granted approval for Counsel's requested fee of $55,000,000, as well as a service award of $100,000 for each Lead Plaintiff. 

  • Counsel is authorized by the Stipulation to pay the Claims Administrator’s fees and expenses incurred in connection with giving notice, administering the settlement, and distributing the settlement proceeds to the members of the Class. The Claims Administrator’s fees and expenses will be paid out of the gross Settlement Fund. The Claims Administrator was selected through a competitive bidding process and multiple bides were reviewed and considered.

  • Objecting is simply telling the Court that you do not like something about the proposed settlement. You can object only if you remain in the Class. Excluding yourself is telling the Court that you do not want to be part of the Settlement. If you exclude yourself, you have no basis to object because the Settlement no longer affects you. Please note that both the Exclusion and Objection Deadlines have passed. 

  • The Court held a Settlement Hearing on September 29, 2022, at 10:00am in Courtroom 24A of the Daniel Patrick Moynihan U.S. Courthouse at 500 Pearl Street, New York, NY 10007. At this hearing, the Court approved the Settlement Fund and Proposed Plan of Allocation for the proceeds of the Settlement and the application of Lead Counsel for attorneys' fees and reimbursement of expenses. For more information, please see the Final Judgement and Order of Dismissal with Prejudice on the Important Documents page of this website.

  • The notice summarizes the proposed settlement. More details are contained in a Stipulation of Settlement with Defendant BlackBerry dated June 7, 2022 (the “Stipulation”). A copy of the Stipulation, along with the other important documents, are available on the Important Documents tab of this website.

  • For more detailed information concerning the matters involved in this Action, you can inspect the pleadings, the Stipulation, the Orders entered by the Court, and the other papers filed in the Action at the Office of the Clerk, Daniel Patrick Moynihan U.S. Courthouse at 500 Pearl Street, New York, NY 10007, during regular business hours. You may also contact Lead Counsel.

  • The court approved Plan of Allocation has been prepared by Plaintiffs and Lead Counsel with the assistance of their economics consultant. Defendants dispute that any damages were suffered by any Members of the Class.

    The objective of the Plan of Allocation is to equitably distribute the Settlement proceeds to those Class Members who suffered economic losses as a result of the alleged violations of the federal securities laws as opposed to losses caused by market or industry factors or company-specific factors unrelated to the alleged violations of law. The Plan of Allocation reflects the allegations of the SAC and the advice of Plaintiffs’ damages expert, including a review of publicly available information regarding BlackBerry and statistical analysis of the price movements of BlackBerry common stock and the price performance of relevant market and peer indices during the Class Period. The Plan of Allocation, however, is not a formal damages analysis.

    The calculations made pursuant to the Plan of Allocation are not intended to be estimates of, nor indicative of, the amounts that Class Members might have been able to recover after a trial. Nor are the calculations pursuant to the Plan of Allocation intended to be estimates of the amounts that will be paid to Authorized Claimants pursuant to the Settlement. The computations under the Plan of Allocation are only a method to weigh the claims of Authorized Claimants against one another for the purposes of making pro rata allocations of the cash in the Net Settlement Fund to Authorized Claimants.

    The court approved plan of allocation is provided in the Notice, which can be obtained from the Important Documents tab on this website.

  • If you purchased common stock of BlackBerry in a Covered Transaction from March 28, 2013 to September 20, 2013, inclusive, for the beneficial interest of a person or organization other than yourself, the Court has directed that WITHIN TEN DAYS OF YOUR RECEIPT OF THIS NOTICE, you either (a) provide to the Claims Administrator the name, email address, and last known address of each person or organization for whom or which you purchased BlackBerry common stock during such time period or (b) request additional copies of the Postcard Notice, which will be provided to you free of charge, and within ten (10) days mail the Postcard Notice directly to the beneficial owners of that BlackBerry common stock. If you choose to follow alternative procedure (b), the Court has directed that upon such mailing, you send a statement to the Claims Administrator confirming that the mailing was made as directed. You are entitled to reimbursement from the Settlement Fund of your reasonable out-of-pocket expenses actually incurred in connection with the foregoing up to $0.05 for providing names, addresses, and email addresses to the Claims Administrator; up to a maximum of $0.05 per Postcard Notice mailed by you, plus postage at the rate used by the Claims Administrator; or $0.05 per notice sent by email. Those expenses will be paid upon request and submission of appropriate supporting documentation. All communications concerning the foregoing should be addressed to the Claims Administrator:

    BlackBerry U.S. Securities Litigation
    c/o JND Legal Administration
    P.O. Box 91399
    Seattle, WA
    (by regular or express mail)

    BlackBerry U.S. Securities Litigation
    c/o JND Legal Administration
    1100 2nd Avenue, Suite 300
    Seattle, WA 98101
    (by express delivery service)


    If you choose to mail the Notice and Claim Form yourself, you may obtain from the Claims Administrator (without cost to you) as many additional copies of these documents as you will need to complete the mailing.

For More Information

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

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