DOW JONES NEWSWIRES
Finnish handset maker Nokia Corp. (NOK) Friday said it will
defend itself against a class action suit brought against the
company in the United States.
The class action was filed by U.S.-based law firm Robbins Geller
Rudman & Dowd LLP on Thursday, at the Southern District Court
of New York.
In a statement, Robbins Geller said Nokia has misled investors
by claiming that its transition to using Microsoft Corp.'s (MSFT)
Windows Phone operating systems for its smartphones would halt the
company's 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," Robbins Geller said in the statement.
Nokia said its reviewing the suit, adding however that it
believes that the allegations "are without merit" and that it will
defend itself against the complaint.
Robbins Geller said it seeks to recover damages on behalf of all
purchasers of Nokia's shares.
At 1416 GMT shares in Nokia traded 9.8% lower at EUR2.41.
-By Sven Grundberg; Dow Jones Newswires; +46-702 88 36 39;
sven.grundberg@dowjones.com