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News Breaks
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January 25, 2010
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| 06:14 EDT |  | MOT |
| theflyonthewall.com: | Class action lawsuit filed against Motorola regarding Q4 of 2007 RAZR2 sales | | The Brualdi Law Firm, P.C. announces that a lawsuit has been commenced in the U.S. District Court for the Northern District of Illinois on behalf of purchasers Motorola, Inc. stock during the period between December 6, 2007 and January 22, 2008, inclusive for violations of the federal securities laws. No class has yet been certified in the above action. The complaint charges Motorola and certain of its officers and directors with violations of the federal securities laws for intentionally and knowingly misstating the 2007 fourth quarter earnings projections and sales demands for the RAZR2 during the 2007 holiday shopping season. Despite that fact that the RAZR2 was not attracting buyers in 2007 because it had not improved enough from the RAZR to earn the $299 price tag, numerous positive statements were made by Defendants. Motorola was losing significant market share to competitors for similar mobile handhelds. The Company reported 900,000 RAZR2s sold between August 2007 and September 31, 2007, on track to sell a total of 1.5M RAZR2s between October 1, 2007 and December 31, 2007. With this information, the senior executives knew that the Company was not on track to hit the $0.12-$0.14 profits that they had promised on December 6, 2007. :theflyonthewall.com |
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February 2, 2012
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| 15:05 EDT | | MOT |
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