BENSALEM, Pa.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24NOK&src=ctag” target=”_blank”gt;$NOKlt;/agt; lt;a href=”https://twitter.com/hashtag/classaction?src=hash” target=”_blank”gt;#classactionlt;/agt;–Law Offices of Howard G. Smith announces an expanded class period in the
class action lawsuit filed on behalf of investors who purchased Nokia
Corporation (“Nokia” or the “Company”) (NYSE: NOK)
securities between April 15, 2015 and March 21, 2019, inclusive
(the “Class Period”). Nokia investors have until June 18, 2019 to
file a lead plaintiff motion.
Investors suffering losses on their Nokia investments are encouraged to
contact the Law Offices of Howard G. Smith to discuss their legal rights
in this class action at 888-638-4847 or by email to [email protected].
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 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.
If you purchased shares of Nokia, have information or would like to
learn more about these claims, or have any questions concerning this
announcement or your rights or interests with respect to these matters,
please contact Howard G. Smith, Esquire, of Law Offices of Howard G.
Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by
telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected],
or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.