BlackBerry Investors Seek Judge Nod for $165 Million Settlement

BlackBerry Ltd. investors who say the company misled them about smartphone sales asked a federal judge in New York for permission to move forward with a $165 million deal resolving their securities dispute.

The cash settlement represents about 13.7% of estimated maximum damages, which “falls well within” the acceptable range based on similar cases, BlackBerry investors told the US District Court for the Southern District of New York in a memo filed as part of their preliminary approval bid.

Investors accuse the technology company of misleading them about the popularity of its BlackBerry 10 smartphones. The deal follows nearly a ...