Nokia Faces Class Action over Delayed Phones in 2008

A class action complaint was filed on the 5th of February in the United States of America which claims Nokia top executives hid product delays from their investors during 2008 reports an article over on Reuters.

Nokia has stated they will vigorously defend themselves against the class action case and has said that Nokia has looked at said allegations within the complaint and as far as Nokia is concerned they have no merit.

The class action was filed against Nokia’s chief exec Olli-Pekka Kallasyuo, chief financial officer Rick Simonson and head of Nokia phone business Kai Oistarmo, by the City of Roseville Employees’ Retirement System.

No other information on the class action is currently available, but we will of course keep you up to dat as and when we hear more.

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