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.
If you are a shareholder who suffered a loss, click here
to participate.
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 shareholders@glancylaw.com,
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.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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