NEW YORK–(BUSINESS WIRE)–Faruqi & Faruqi, LLP, a leading national securities law firm, reminds
investors in Nokia Corporation (“Nokia” or the “Company”) (NYSE:NOK) of
the June 18, 2019 deadline to seek the role of lead plaintiff in a
federal securities class action that has been filed against the Company.
If you invested in Nokia stock or options between April 15, 2015 and
March 21, 2019 and would like to discuss your legal rights, click
here: www.faruqilaw.com/NOK.
There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at
877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.
The lawsuit has been filed in the U.S. District Court for the Southern
District of New York on behalf of all those who purchased Nokia
securities between April 15, 2015 and March 21, 2019 (the “Class
Period”). The case, Max v. Nokia Corporation et al, No.
19-cv-03982 was filed on May 3, 2019.
The lawsuit focuses on whether the Company and its executives violated
federal securities laws by making false and/or misleading statements
and/or failing to disclose that: (1) Alcatel maintained insufficient
internal controls and was materially non-compliant in its business
practices; (2) Nokia had failed to conduct adequate due diligence into
Alcatel prior to its acquisition; (3) subsequent to the completion of
Nokia’s acquisition of Alcatel, the Company maintained insufficient
internal controls over the integration of Alcatel’s businesses; (4) as a
result of the foregoing, at all relevant times, Nokia was at risk of
serious criminal and civil penalties; and (5) as a result, the Company’s
public statements were materially false and misleading at all relevant
times.
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, the Company’s stock price fell from $6.26 per share on
March 21, 2019 to $5.88 per share on March 22, 2019—a $0.38 or 6.07%
drop.
The court-appointed lead plaintiff is the investor with the largest
financial interest in the relief sought by the class who is adequate and
typical of class members who directs and oversees the litigation on
behalf of the putative class. Any member of the putative class may move
the Court to serve as lead plaintiff through counsel of their choice, or
may choose to do nothing and remain an absent class member. Your ability
to share in any recovery is not affected by the decision to serve as a
lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding
Nokia’s conduct to contact the firm, including whistleblowers, former
employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is
Faruqi & Faruqi, LLP (www.faruqilaw.com).
Prior results do not guarantee or predict a similar outcome with respect
to any future matter. We welcome the opportunity to discuss your
particular case. All communications will be treated in a confidential
manner.
Contacts
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New
York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone:
(877) 247-4292 or (212) 983-9330
