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Nokia, Execs Hit with Class-Action Suit Over Disappointing Lumia Sales

May 4, 2012

Nokia has been hit with a class-action lawsuit charging the company with making promises it couldn't keep.

Law firm Robbins Geller Rudman & Dowd yesterday filed a class-action lawsuit against Nokia and its executives in the U.S. District Court for the Southern District of New York on behalf of those who owned the company's shares between October 26, 2011, and April 10.

"The complaint alleges that during the Class Period, defendants told investors that Nokia's conversion to a Windows platform would halt its deteriorating position in the smartphone market. It did not,"

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