NEW YORK, March 8, 2023 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of BlackBerry Limited ('BlackBerry" or the "Company") (NYSE: BB). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether BlackBerry and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On March 6, 2023, BlackBerry issued a press release reporting its preliminary fourth quarter ("Q4") and full year fiscal 2023 financial results. Among other items, BlackBerry reported Q4 revenue of approximately $151 million, missing consensus estimates of $166.4 million, and full-year revenue of approximately $656 million, missing consensus estimates of $679.28 million. BlackBerry also reported that its results are expected to include a material non-cash, one-time goodwill impairment charge of up to $440 million for its Spark reporting unit.
On this news, BlackBerry's stock price fell $0.49 per share, or 12.28%, to close at $3.50 per share on March 7, 2023.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, London, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP
