Court Dismissed Nokia Shareholder Lawsuit

Court Dismissed Nokia Shareholder Lawsuit
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A US judge dismissed a lawsuit accusing Nokia of misleading shareholders on difficulties integrating Alcatel-Lucent assets into its business and its progress with 5G. Following the decision, the case cannot be refiled in its current form.

The proposed class action lawsuit had been thrown out because the accusers failed to identify any statements which could be deemed false or misleading when they were made. In his conclusion, the judge added Nokia had made continuous disclosures on both issues.

The case was filed in March 2019 when Nokia was under the leadership of former CEO Rajeev Suri. It surrounded issues in the wake of Nokia’s attempts to integrate Alcatel-Lucent into its business following its acquisition in 2016. It also included wider claims about misleading statements on the vendor’s position in the fledgling 5G ecosystem.