US law firms are investigating concerns whether BlackBerry and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On September 24, 2019, BlackBerry announced the Company’s financial and operating results for the second quarter of fiscal 2020. BlackBerry reported a net loss of $44 million in the quarter ended Aug. 31, compared to a profit of $43 million a year previous.
Revenue fell short of expectations and BlackBerry cut the top end of its full-year revenue forecast. BlackBerry estimates fiscal 2020 total company non-GAAP revenue growth to be in the range of 23% to 25%, driven by a double-digit percentage increase in billings year-over-year, and non-GAAP profitability for fiscal 2020.
On this news, Blackberry’s stock price fell sharply during intraday trading on September 24, 2019.
Bernstein Liebhard LLP
Investor rights law firm Bernstein Liebhard is investigating potential securities fraud claims on behalf of shareholders of BlackBerry, resulting from allegations that BlackBerry might have issued misleading information to the investing public.
If you purchased BlackBerry securities, and/or would like to discuss your legal rights and options you can visit BlackBerry Shareholder Investigation, contact Matthew E. Guarnero toll free at (877) 779-1414 or email at MGuarnero@bernlieb.com.
Pomerantz LLP
Pomerantz LLP is investigating claims on behalf of investors of BlackBerry. The investigation concerns whether BlackBerry and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
If you are interested in discussing, or joining this claim, you may do so here.
Ademi & O’Reilly, LLP
Ademi & O’Reilly, LLP is investigating possible securities fraud claims against BlackBerry resulting from inaccurate statements Blackberry made regarding its business practices, financial statements and prospects.
The investigation focuses on whether BlackBerry issued false and misleading statements regarding its financial statements, business practices and prospects. Specifically, on September 24, 2019, BlackBerry reported a net loss for the quarter and lower than expected revenues using non-GAAP numbers, without identifying them as such. SEC rules require that GAAP numbers be presented with equal, or greater, prominence to non-GAAP figures.
Interested parties can find out more or join the action here, or call Guri Ademi toll-free at 866-264-3995.
