An angry shareholder has dropped a class-action suit that he filed back in May accusing Nokia of fraud. Robert Chmielinski, a Nokia investor, had claimed that Nokia spokespeople, including CEO Stephen Elop, knowingly made false statements about how its Lumia line of Windows Phones would boost their position in the global mobile phone market. The suit was based declining stock prices.
It claimed that:
At the time, Nokia issued a statement acknowledging the suit, but dismissing the allegations as "without merit." Today the Finnish manufacturer followed up with another brief statement:
It's unlikely that the fraud case would have had any legs anyway, but this is good news for Nokia, who have bigger fish to fry. They are in the midst of patent infringement suits with RIM, HTC and Viewsonic in the U.S. and Germany, all of which could be bigs wins for them.
Source: Nokia; Via: WPCentras Thanks for the tip, Arvydasg.93!
Get the Windows Central Newsletter
All the latest news, reviews, and guides for Windows and Xbox diehards.