BlackBerry Ltd. investors won final approval of a $165 million settlement in a securities suit alleging the Canadian technology company misled them about smartphone sales.
The settlement, which ends nearly a decade of litigation, gives investors “substantial relief” without the risk of trial, Judge Colleen McMahon in the US District Court for the Southern District of New York said in a Thursday order.
Investors in 2013 accused BlackBerry of misleading them about the popularity of its BlackBerry 10 smartphones, artificially inflating the stock. A deal was reached in April, the day before jury selection was scheduled to begin. ...
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