Research In Motion Limited (USA) Under Investor Investigation Over Possible Securities Laws Violations

If you purchased shares of Research In Motion Limited (USA) (NASDAQ RIMM), and/or if you have any information relating the investigation, you have certain options and you should contact the Shareholders Foundation, Inc.

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Company Name(s): 
Research in Motion
Affected Securities: 
NASDAQ: RIMM

After RIMM stocks lost substantial value over the past months an investigation on behalf of investors in shares of Research In Motion Limited (USA) (NASDAQ:RIMM) over possible violations of Federal Securities Laws was announced.

The investigation by a law firm focuses on whether Research In Motion Limited (USA) has violated federal securities laws by issuing false and misleading statements to its shareholders in a series of statements made between December 16, 2010 and April 28, 2011, inclusive, regarding RIM's business, its prospects and its operations.

Research In Motion’s 12months Total Revenue more than tripled over the past four filing periods. Its 12months Total Revenue increased from $6.009billion reported on March 1, 2008 to $19.907billion reported on February 26, 2011. Its Net Income surged within the same time frame from $1.293billion to $3.411billion.

Shares of Research In Motion Limited (USA) (Public, NASDAQ:RIMM) fell from as high as $144.56 per share during 2008 to as low as $36.34 per share in March 09. However RIMM stock was able to regain value in 2009 as it reached $83.61 during September 2009. NASDAW: RIMM stock traded as early as February 2011 as high as $69.86 but fell to recently roughly $43 per share.

On April 28, 2011 Research In Motion Limited provided an update on its financial guidance for the first quarter of fiscal 2012 ending May 28, 2011.

Research In Motion said it now expects fully diluted earnings per share for Q1 to be in the range of $1.30-$1.37, lower than the range of $1.47-$1.55 previously forecasted by RIM on March 24, 2011.
Research In Motion said this shortfall is primarily due to shipment volumes of BlackBerry smartphones that are now expected to be at the lower end of the range of 13.5-14.5 million forecasted in March and a shift in the expected mix of devices shipped towards handsets with lower average selling prices.

Shares of Research In Motion Limited (USA) (Public, NASDAQ:RIMM) fell the following day from $56.59 on April 28 to $48.20 on April 29 and decreased to as low as $ 42.61 on May 16, 2011.