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Telecommunications Motorola cops class action law suit over handset woes
Telecommunications Motorola cops class action law suit over handset woes | Motorola cops class action law suit over handset woes |
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| by Stuart Corner | |
| Thursday, 06 September 2007 | |
  
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It alleges that Motorola and certain of its officers and directors failed to disclose, misrepresented or recklessly disregarded key information about the state of the company's handset business. Namely: - that Motorola was suffering from poor product and geographic mix in the mobile services segment; - that it was suffering from reduced margins and pricing pressures as a result of shifting consumer demand and purchases; - that it was unable to adequately offer 3G products when consumer demand increased because it was not acquiring the necessary chipsets from its suppliers; - that its performance in Europe was suffering as a result of its limited 3G product portfolio; - that its products were not meeting internal expectations or sales targets; and - that, as a result of these problems, Motorola's statements about its financial wellbeing and future business prospects were lacking in a reasonable basis when made.{moscomment} |
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