Nokia investors have filed a class-action lawsuit accusing the company of misrepresenting the impact its deal with Microsoft would have on its market position.
The suit, submitted to a US court, claims that Nokia falsely painted the deal as key to arresting the company's declining smartphone market share, court documents excerpted by SlashGear show. The suit claims Nokia’s falling device sales during 1Q12, and problems with one of its latest Windows Phone models, shows claims about the benefits of the deal were false.
Any investor who bought Nokia stock after the vendor launched its first Windows Phone handset in October 2011 can join the lawsuit, but they must have bought in before Nokia's warning on April 11, 2012.
The vendor denies the claims made in the suit, stating it is “reviewing the allegations contained in the complaint and believes that they are without merit,” and vowing to defend itself.