LONDON, ON, and TORONTO, ON, Nov. 17, 2015 /CNW/ - Ontario's Superior Court of Justice has granted leave to commence a shareholder action pursuant to section 138.3 of the Ontario Securities Act against BlackBerry Limited (TSX: "BB"; NASDAQ: "BBRY"), its former CEO Thorsten Heins, and its former CFO Brian Bidulka by order dated November 17, 2015.
The plaintiff was granted leave to pursue claims in respect of alleged misrepresentations in BlackBerry Limited's financial statements and management's discussion and analysis of financial condition and results of operations released between March 28, 2013 and June 28, 2013.
The plaintiff has also brought a motion to certify the action under the Class Proceedings Act, which is now scheduled to be heard in January of 2016. That motion seeks to certify the action for a class including all persons who acquired the securities of BlackBerry Limited between March 28, 2013 and September 20, 2013.
A copy of the Court's reasons for granting leave may be found at: http://www.siskinds.com/blackberry-2/
Siskinds LLP represents the plaintiff in this proceeding. The Siskinds securities class actions team has offices in London, Toronto, and through its affiliate Siskinds, Desmeules, in Montreal and Québec City. The team, comprised of 15 lawyers admitted to practice in Ontario, Quebec, New York State, and the state of Queensland in Australia, acts exclusively for investors.
SOURCE Siskinds LLP
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