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Glancy Prongay & Murray LLP Files a Securities Class Action on Behalf of Nokia Corporation Investors (NOK)
[April 19, 2019]

Glancy Prongay & Murray LLP Files a Securities Class Action on Behalf of Nokia Corporation Investors (NOK)


Glancy Prongay & Murray LLP ("GPM") announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York, captioned Tom v. Nokia (News - Alert) Corporation et al., (Case No. 1:19-cv-03509), on behalf of persons and entities that purchased or otherwise acquired Nokia Corporation (NYSE: NOK) ("Nokia" or the "Company") securities between October 25, 2018 and March 21, 2019, inclusive (the "Class Period"). Plaintiff pursues claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act").

Investors are hereby notified that they have 60 days from the date of this notice to move the Court to serve as lead plaintiff in this action.

If you are a shareholder who suffered a loss, click here to participae.



On March 21, 2019, the Company disclosed that it had been, "made aware of certain practices relating to compliance issues at the former Alcatel Lucent business [acquired by Nokia November 2016] that have raised concerns.'' Nokia then advised investors that it had initiated an internal investigation and that it was cooperating with regulatory authorities to resolve the matter. On this news, shares of Nokia fell $0.38 per share, or over 6%, to close at $5.88 on March 22, 2019, thereby injuring investors.

The complaint filed in this class action 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, Defendants failed to disclose to investors: (1) that Alcatel-Lucent (News - Alert) 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.


Follow us for updates on Twitter (News - Alert)twitter.com/GPM_LLP.

If you purchased Nokia securities during the Class Period, you may move the Court no later than 60 days from the date of this notice to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.


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