San Diego, CA -- (SBWIRE) -- 06/27/2012 -- A deadline is coming up on July 3, 2012 in the lawsuit filed for investors in NYSE:NOK shares over alleged securities laws violations by Nokia Corporation.
Investors with a substantial investment in Nokia Corporation (ADR) (NYSE:NOK) shares between October 26, 2011 and April 10, 2012, should get active before the Deadline that is coming up on July 3, 2012, and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges on behalf of purchasers of Nokia Corporation (ADR) (NYSE:NOK) publicly traded securities during the period between October 26, 2011 and April 10, 2012, that Nokia Corporation violated the Securities Exchange Act of 1934. Specifically, the plaintiff alleges that defendants told investors that Nokia's conversion to a Windows platform would halt its deteriorating position in the smartphone market, but it did not.
Shares of Nokia Corporation (ADR) (NYSE:NOK) dropped from over $37 in 2008 to roughly $5 per share in the first months of 2012.
Then on April 11, 2012, Nokia Corporation lowered Devices & Services first quarter 2012 outlook and provided second quarter 2012 outlook. Among other things, Nokia Corp, said the “difficult financial performance reflects company in transition”.
Shares of Nokia Corporation (ADR) (NYSE:NOK) fell from $5.02 on April 10, 2012 to $4.24 on April 11, 2012 and continued to decline to as low as $2.16 on June 26, 2012.
Those who purchased shares of Nokia Corporation (ADR) (NYSE:NOK) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego