Nokia denies U.S. class-action suit alleging fraud
Nokia today denied allegations of securities fraud filed against the cell phone maker in a suit, saying they are "without merit," and vowed to fight them "vigorously." The suit, filed in a New York court, alleges Nokia made statements last year in regard to the production and sales of certain devices that failed to mention manufacturing difficulties. Nokia also said today that it would lay off 285 employees at a Finnish plant because of its new focus on developing smartphones for the European market.
Total Telecom Magazine (U.K.) | 02/08
This story published in CTIA SmartBrief on 02/08/2010
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