Glancy Prongay & Murray LLP Announces Expanded Class Period in the Securities Class Action on Behalf of Nokia Corporation Investors (NOK)
LOS ANGELES--(BUSINESS WIRE)--May 9, 2019--Glancy Prongay & Murray LLP (“GPM”) announces an expanded class period in the class action lawsuit filed on behalf of Nokia Corporation (NYSE: NOK ) (“Nokia” or the “Company”) 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.
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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.
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If you purchased Nokia securities during the Class Period, you may move the Court no later than June 18, 2019 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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View source version on businesswire.com:https://www.businesswire.com/news/home/20190509005431/en/
CONTACT: Glancy Prongay and Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Glancy Prongay and Murray LLP
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PUB: 05/09/2019 12:00 PM/DISC: 05/09/2019 12:00 PM