Nokia Corporation NOK Securities Stock Fraud

Company:	Nokia Corporation
Ticker Symbol:	NOK
Class Period:	Oct-26-11 to Apr-10-12
Date Filed:	May-3-12
Lead Plaintiff Deadline:	Jul-2-12
Court:	Southern District of New York
Allegations:

New York, NY: A securities class action has been filed in the United States District Court for the Southern District of New York on behalf of purchasers of Nokia Corporation ("Nokia") publicly traded securities during the period between October 26, 2011 and April 10, 2012 (the "Class Period").

The complaint charges Nokia and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Nokia provides telecommunications infrastructure hardware, software, and services worldwide.

The complaint alleges that during the Class Period, defendants told investors that Nokia' conversion to a Windows platform would halt its deteriorating position in the smartphone market. It did not. This became apparent on April 11, 2012, when Nokia disclosed that its first quarter performance would be worse than expected. Nokia expected its first quarter 2012 non-IFRS Devices & Services operating margin to fall by 3%, and projected first quarter 2012 Devices & Services net sales of €4.2 billion. It also disclosed a glitch in its newest Windows offering – the Lumia 900. Nokia had to immediately offer customers an automatic $100, making the phone essentially free.

As a result of this disclosure, the price of Nokia' American Depositary Shares ("ADRs") dropped over 16% in a single day.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

Nokia Corporation NOK Securities Fraud Legal Help

If you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible Nokia Corporation securities class action lawsuit. Please click the link below to submit your complaint for a free evaluation.
Published on May-7-12