NEW YORK, April 22, 2019 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Nokia Corporation (“Nokia” or the “Company”) (NYSE: NOK) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Nokia securities between October 25, 2018 and March 21, 2019, both dates inclusive. Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/nok.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
On March 21, 2019, Nokia filed an Annual Report with the U.S. Securities and Exchange Commission, disclosing that the Company had “been made aware of certain practices relating to compliance issues at the former Alcatel Lucent business [acquired by Nokia in November 2016] that have raised concerns.” Nokia advised investors that it had “initiated an internal investigation and voluntarily reported the matter to the relevant regulatory authorities, with whom we are cooperating with a view to resolving the matter.” Following this disclosure, Nokia’s American depositary receipt price fell $0.38 per share, or 6.07%, to close at $5.88 on March 22, 2019.
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 wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/nok or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Nokia you have until June 18, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com