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Nokia Hit With Class Action Suit

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Via TheNextWeb: Nokia is having a rough year. As the company struggles to regain lost smartphone marketshare in U.S. and Europe, shareholders just filed a class action suit against the company for misleading statements execs made in the last fiscal year about the future of the company and the move to the Windows Phone operating system. The trigger for this was the company’s Q1 earnings in which Nokia did not reveal the turnaround that Nokia execs promised. Rather, the Lumia 900 was found to be faulty, forcing Nokia to severely cut its price. 

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