A Blackberry smartphone is displayed in this illustrative picture taken in Bordeaux, Southwestern France, August 22, 2016. REUTERS/Regis Duvignau
NEW YORK: A US appeals court upheld the dismissal of a lawsuit accusing BlackBerry Ltd of fraudulently inflating its stock price by painting an upbeat picture of the prospects for its BlackBerry Z10 smartphone line that was misleading.
While the 2nd US Circuit Court of Appeals in New York said the lawsuit failed to state a plausible claim, it ordered a lower-court judge to reconsider whether to let the plaintiffs amend their complaint in light of what they said was new evidence.
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