Fairfax Not Shedding Light on BlackBerry Deal

Fairfax

 

There is no update from Fairfax today on its buyout of BlackBerry. Since the initial offer much has changed:

Google and Everything Android are part of lawsuit with BlackBerry’s consortium partners, Rockstar:

https://pfcsystems.wordpress.com/2013/11/01/google-samsung-sued-by-consortium-owned-by-apple-microsoft-blackberry-sony/

and BlackBerry may be looking for a better partner:

https://pfcsystems.wordpress.com/2013/11/01/blackberry-looking-for-a-mutually-beneficial-partnership/

 

By Will Connors

Investors hoping to get an update on the deal to take BlackBerry Ltd.BB.T -1.34% private during Fairfax Financial Holdings Ltd.’sFFH.T -2.86% earnings call Friday morning were likely disappointed.

Fairfax, the Canadian insurer led by Prem Watsa, in late September struck a preliminary $4.7 billion deal to buy the shares of BlackBerry it didn’t already own and take the troubled smartphone company private. Since the announcement of the deal, which Fairfax can walk away from at no penalty, investors have reacted skeptically, sending BlackBerry shares down more than 11%.

On Friday, Fairfax held a conference call to discuss its own third-quarter financial results. As soon as the call was opened to analysts’ questions, a request for an update on the BlackBerry bid was put forth.

Mr. Watsa, Fairfax’s founder and chief executive, declined to comment and quickly moved on. Investors will have to wait til Monday, when the due diligence period for the BlackBerry deal expires, to get an update.

Source: http://blogs.wsj.com/canadarealtime/2013/11/01/fairfax-declines-to-shed-light-on-blackberry-deal-for-now/

Google, Samsung sued by consortium owned by Apple, Microsoft, BlackBerry, Sony and Ericsson

Google, Samsung sued by consortium owned by Apple, Microsoft, BlackBerry, Sony

Reuters, November 01, 2013

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The group that owns thousands of former Nortel patents filed a barrage of patent lawsuits on Thursday against cell phone manufacturers including Google, the company it outbid in the Nortel bankruptcy auction.Rockstar, the consortium that bought the Nortel patents for $4.5 billion, sued Samsung Electronics Co Ltd, HTC Corp, Huawei and four other companies for patent infringement in U.S. District Court in Texas. Rockstar is jointly owned by Apple, Microsoft, Blackberry, Ericsson and Sony.Google is accused of infringing seven patents. The patents cover technology that helps match Internet search terms with relevant advertising, the lawsuit said, which is the core of Google’s search business.A Google spokesman declined to comment. Representatives for Samsung, Huawei, HTC and Rockstar could not immediately be reached.Samsung, Huawei and HTC all manufacture phones that operate on Google’s Android operating system, which competes fiercely with Apple and Microsoft mobile products.

In 2011 Google placed an initial $900 million bid for Nortel’s patents. Google increased its bid several times, ultimately offering as much as $4.4 billion.

After losing out to Rockstar on the Nortel patents, Google went on to acquire Motorola Mobility for $12.5 billion, a deal driven partly by Motorola’s library of patents.

“Despite losing in its attempt to acquire the patents-in-suit at auction, Google has infringed and continues to infringe,” the lawsuit said.

Rockstar is seeking increased damages against Google, as it claims Google’s patent infringement is willful, according to the complaint.

The Google case in U.S. District Court, Eastern District of Texas is Rockstar Consortium US LP and Netstar Technologies LLC vs. Google, 13-893.

Source and © Thomson Reuters 2013

The lines are drawn and the sides for battle have been determined!  The Rockstar consortium including the partners, Apple, BlackBerry,Microsoft, SONY and Ericsson, are engaged in a lawsuit against Google and everything Android (Samsung, HTC, Huawei);

BlackBerry has new BFFs in its consortium partners, and one of these companies, or Lenovo, or Facebook, is on the right side to help BlackBerry, as discussed:

BlackBerry Looking For A Mutually Beneficial Partnership

https://pfcsystems.wordpress.com/2013/11/01/blackberry-looking-for-a-mutually-beneficial-partnership/

BlackBerry: Looking For a Mutually Beneficial Partnership

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by Darryl McKinnon and Fernando Commodari

Recently we’ve posted about why BlackBerry should remain publicly traded & in Canada:

https://pfcsystems.wordpress.com/2013/10/19/a-letter-to-members-of-the-canadian-parliament/

https://pfcsystems.wordpress.com/2013/10/27/blackberry-an-alternative-reality-an-alternative-future/

It’s not clear what the next few days will bring, but there are several options:

http://crackberry.com/here-s-what-happens-blackberry-november-4th

Fairfax

FAIRFAX

Looking at the Fairfax deal we can try to understand the synergies to it.  We can try to figure out why it may or may not make sense. With the facts being that if the BlackBerry management team, and the army of employees under them, were not able to complete the transition to date, why would Fairfax be able to do so? What mobile technology background does Prem Watsa have that BlackBerry currently doesn’t? There is none!  What social media/network experience with on site ads for BBM Channels does this deal bring to BlackBerry?  Again, none!

The Fairfax deal makes no sense except for Fairfax to get their original investment back out of BlackBerry. Firstly, the Board (with Prem Watsa, as a member) put the incentive in place for Thorsten Heins to sell BlackBerry and receive a massive payday by doing so. Then, in return, the BlackBerry CEO agrees to an ultra low sales price, a day after the stock price was trading higher.  Within the agreement to sell BlackBerry to Fairfax is a financial clause that if BlackBerry was to take another offer for the company, Fairfax is to receive $150 million. We’ve seen deals where if the buyer backs out there is a financial penalty to be paid to the company that was to be bought.  We’ve never seen a deal where if the seller finds a better offer they have to pay the original buyer! This clause is simply ridiculous! It’s set to ensure Fairfax gets paid handsomely for their efforts. Yet there’s no benefit for your average shareholder that has been vested in BlackBerry during the difficult times and still truly believes in the company and their technology!

http://empowerednews.net/nasdaqbbry-investor-alert-investigation-of-potential-takeover-of-blackberry-at-9/1845143/

Understanding the above, one asks the question, “Why would Fairfax set up a deal that begs for a superior offer?”- Fairfax has no interest in BlackBerry. They are a financial insurance company. They want their money back; and they’ll get it. It helps greatly if you’re at the table on both sides of the deal.

So what’s the end game then? Is it a sale of BlackBerry by any means possible? The assets are clear, the value is obvious, to those select companies that make it their business to know, BlackBerry’s current competition: Google, Apple, Microsoft, Facebook, Lenovo among others. All these companies have been or are currently rumored to be looking at BlackBerry to buy the company for its assets that the Fairfax deal has priced at half of book value. A steal by any assessment!

Knowing we are fast approaching November 4th, barring direct government support:

https://pfcsystems.wordpress.com/2013/10/19/a-letter-to-members-of-the-canadian-parliament/

there is more than one form of support that could work.

This support could come from one of the aforementioned prospective BlackBerry suitors. One can make a clear business case for anyone of these potential suitors to take a substantial stake in BlackBerry, instead of buying the company. Supporting the company with an infusion of cash and the perceived stability created from the newly formed partnership, would substantially lead to gains for both partners in the resurgence of BlackBerry.  A partnership has to be a match or fit that works for the two parties, and allows beneficial gains for each, from the union. With “partnership” being the key word, let’s, for the sake of a number, select a 49% stake from all of the current potential bidders and look at what the mutual benefits might be.

Facebook-Logo

Facebook

The synergies between BlackBerry & Facebook make sense, so let’s start there as many of the benefits can be repeated with some of the other prospective partners.

“A strong partner like FB would ensure the cash they need to complete transition while maintaining R&D, it would bring a fresh new appeal to the BBRY brand and surely increase device sales. It would bring Instagram, followed by other top apps and stop the BBRY’s dead news but hopefully it will force a radical change of management. I think the German guy failed and he was still too close to Mike Lazaridis. BBRY needs new and outsider blood in the management team and surely a brand new marketing team made of under 35’s super talented people.”

http://crackberry.com/node/182125

[We take issue with the under 35 part of the quote—LOL!]

Let’s say Facebook bought a 49% stake in BlackBerry and that the two companies started to work together. Facebook doesn’t make hardware. It’s not in their DNA. The deal instantly gives FB a huge stake in a massive hardware market with fantastic potential. Let’s admit it, hard work has been done with BB10. The foundation has been laid. The future is bright, yet again what BlackBerry needs is a bit more time and more intelligent and sustained marketing across the globe.

“They’ve [FaceBook} been pushing for their own platform for a while, and are obviously not thrilled with how Google is dealing with them. They pushed an update that allowed Facebook to bypass the Play Store as far as updates are concerned, and Google changed the terms of service on them, forcing apps to go through the Play Store for updates. Seems like they’re trying to get away from Android, they just don’t have any other option. Not sure BlackBerry would be a good fit, but maybe they just want to keep their options open?”

http://crackberry.com/node/182125

Time and marketing are what Facebook can provide for BlackBerry. By doing so they can drive the value of the deal and return huge value in their new hardware alliance/division. Facebook speaks to over 850 million users. They are in a premium position to get the much needed word out about BB10, with direct marketing and ads on their pages.

Facebook could also bring the mobile advertising expertise to assist the emerging BlackBerry Social Network, BlackBerry Channels. Facebook could even have its own exclusive channel!

applelogo

Apple

Let’s say Apple takes a 49% stake in BlackBerry. Even though Apple is ultra popular, the fact remains that they are losing the battle to Google and Android (think Samsung!). By supporting BlackBerry, Apple could again provide the time and money needed to complete the transition, that BlackBerry needs. Apple, by doing so, acquires a second front to battle Android. BlackBerry and Apple could work together improving Apple’s security. As BlackBerry grows, Apple retains the 49% of revenues.  This would be similar to the rescue that Microsoft and Bill Gates offered Apple, years ago.

googlelogo

Google

Let’s say Google buys a 49% stake in BlackBerry. This, as with the other prospective partnerships, would provide the time and funding for BlackBerry to market its new OS. Google could retain extra revenue, and share patents (so could any other partner!).  Google could advertise on BlackBerry Channels exclusively, using it’s expertise in on-line ad placements.  Additionally, Google is still first and foremost a service provider. They could develop their apps for BlackBerry and Google could be rewarded (like any other partner) with BlackBerry’s security/BES10 & enterprise offerings. If Google were to do this, it would lessen the view they might be approaching monopoly status with Android.  This is similar to the incentive Microsoft had with Apple back in the late 1980s.

new-microsoft-logo-600

Microsoft

Let’s say Microsoft invests in a 49% stake in the company.  A non-compete agreement and cross IP sharing deal could be made, as with Google and Apple, or even Lenovo. This would give MS a serious new suite of security and MDM offerings to give it an edge over its competitors, Apple’s, iOS and Google’s, Android. Microsoft could seed BlackBerry OS10, diluting Android’s and iOs’ reach. Honestly, though, with its own strategy of seeding Windows 8, cross platform, we don’t see Microsoft buying a stake in BlackBerry for anything but the patents and BES10/NOC.

Samsung logo

Samsung

It is not clear that Samsung would want to partner with BlackBerry, as it has no more to gain than say Microsoft, Apple or Google.  Samsung is developing its own OS and already has its own version of Android that is very successful. It is neck and neck in the running with Apple for shear volume of hardware out in the global market.

Sony-logo

Sony

This company is like Lenovo, but with a bigger hardware presence outside its own borders. Sony could benefit from the new BlackBerry 10 OS on its handsets, helping to differentiate it from Android and iOS or even Windows 8. Also, Sony, like Lenovo, would have security advantages using the BlackBerry OS10 on cell phones, which might lead to easier access to the BlackBerry NOC/BES10 than for even Lenovo. Sony had a partnership with Ericsson which never amounted to larger market shares.  It might be willing to take a chance with a new BlackBerry partnership.  We note that BlackBerry OS 10 phones were left out of the Japanese market by BBRY.  Could this be a way to entice Sony with exclusivity in Japan, in exchange for its financial backing?

lenovo-logo-1

Lenovo

Let’s say Lenovo took a 49% or less  stake in the company. Currently Lenovo has no mobile OS to call its own. Gaining a toe hold into BB10 may actually benefit them the most. By only having a 49% or less holding in BlackBerry,  the security regulators would be hard pressed to frown upon the deal, if BlackBerry retains confidential the NOC and security side of the business.  Together, BlackBerry and Lenovo, could  dominate the Asian markets. Lenovo (like Facebook) would benefit in new ways that all the others wouldn’t, via the much needed mobile hardware/software and services expertise that BlackBerry would bring.  BlackBerry would gain the financial backing it needs to finish its transition to BlackBerry 10 and machine to machine ventures with the new BBM, NOC/BES10 services. This partnership offers both sides benefits, as in the case with Facebook, whereas any prospective Microsoft, Google, Apple partnership, would most benefit BlackBerry. Any control of BlackBerry by the latter three companies or even Samsung, would most likely lead to a sell off and break up of BlackBerry.

Maybe, in the end, the biggest motivator that each one of these prospective partners has to enter into a new partnership with BlackBerry is to simply stop one of the others from accomplishing it first. Also, any prospective partner could get an advantage, in addition to the patents, and NOC/BES10, in the new machine to machine world via BlackBerry’s QNX:

https://pfcsystems.wordpress.com/2013/10/27/blackberry-an-alternative-reality-an-alternative-future/

News is breaking everyday that supports BlackBerry’s market offerings of Security first, with its unique MDM able to control not only Blackberry devices, but also iOS and Android devices. A cloud capability is also coming soon. Security is a marketable feature and BlackBerry needs to do a better job of advertising it, not only to enterprise grade customers but also to their everyday consumers who would be leery to learn about the databases of SMS and e-mail messages Google collects.

In summary, BlackBerry needs capital to market its new BlackBerry 10 portfolio and to buy it time to do so while completing its transition to the new platform while bringing new NOC services to the public/enterprise, BES10, BBM and BBM Channels.  The two most obvious/often recognized suitors that would also gain most from a partnership with BlackBerry, are Lenovo and Facebook.  Sony would also gain as much, if not as prominent a suitor. It’s not likely that Facebook has the assets on hand to flat out buy BlackBerry.  Even if Lenovo could do so, it would face regulatory issues in Canada and the USA, leaving a partnership option the only path to move forward.  Apple, Microsoft and Google, would have less to gain from a partnership with BlackBerry, having their own hardware/software vertically integrated, already.  These three companies, as well as Samsung, would most likely use the patent portfolio and the NOC/BES10 secure servers/software to their advantages in gaining access to enterprise clients.

Stay tuned, as the cat will be let out of the bag, on or before November 4, 2013!  Ofcourse, BlackBerry may decide to stay the course, on its own, public and Canadian, having acquired a second wind.  Or, perhaps Mike Lazaridis might come into the picture, as part of the Fairfax deal or with other partners. What does your crystal ball say will happen?  Tell us below in the comments!

UPDATE November 1, 2013 11:00 am:

The lines are drawn and the sides for battle have been determined!  The Rockstar consortium including the partners, Apple, BlackBerry,Microsoft, SONY and Ericsson, are engaged in a lawsuit against Google and everything Android (Samsung, HTC, Huawei);

BlackBerry has new BFFs in its consortium partners, and one of these companies, or Lenovo, or Facebook, is on the right side to help BlackBerry as discussed above!  Check this out:

Google, Samsung Sued by “Rockstar” Consortium

https://pfcsystems.wordpress.com/2013/11/01/google-samsung-sued-by-consortium-owned-by-apple-microsoft-blackberry-sony/

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Co-founders Mike Lazaridis and Douglas Fregin May Rescue BlackBerry

image

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BlackBerry Ltd. (BB) co-founders Mike Lazaridis and Douglas Fregin said they may make a takeover offer for the struggling smartphone maker.
The former BlackBerry executives have hired Goldman Sachs Group Inc. and Centerview Partners LLC to help them study their options, according to a filing today. They signed an agreement to work together on any potential offer.
A bid for Waterloo, Ontario-based BlackBerry would compete with a $4.7 billion offer from Fairfax Financial Holdings Ltd. (FFH), the company’s biggest shareholder, which is seeking partners to help finance a buyout. BlackBerry put itself up for sale after it failed to gain back market share with new products following years of losing ground to Apple Inc. and Samsung Electronics Co.
Lazaridis and Fregin are considering a joint bid “with the goal of stabilizing and ultimately reinventing the company based on a plan developed by them,” they said in the filing. Lazaridis declined to comment.
BlackBerry rose as much as 2.1 percent in New York trading after the filing was released. It was up 0.5 percent to $8.15 at 2:09 p.m., still below Fairfax’s $9-a-share proposal. The co-founders together control 8 percent of BlackBerry’s shares, the filing said. Toronto-based Fairfax has a 9.9 percent stake.
A special committee of BlackBerry’s board continues to review its options, Lisette Kwong, a spokeswoman for BlackBerry, said in an e-mail.
“We do not intend to disclose further developments with respect to the process until we approve a specific transaction or otherwise conclude the review of strategic alternatives,” she said.
Paul Rivett, president of Fairfax, didn’t immediately respond to phone calls and e-mails seeking comment.
Old Friends
Lazaridis, the former co-chief executive officer, and Fregin, its ex-vice president of operations, have been friends since the fifth grade and co-founded BlackBerry while they were engineering students. They now own Quantum Valley Investments, which focuses on developing quantum computing technology.
Since quitting the top job at BlackBerry and then leaving its board in March, Lazaridis has focused his attention on quantum computing and nanotechnology, the science and technology of things approaching the size of an atom.
Fregin left BlackBerry in 2007. Thorstein Heins became CEO of the company last year, and Lazaridis stayed on as vice chairman until May.
While Lazaridis and Fregin say they have a turnaround plan for BlackBerry, the company is now more open to a breakup amid concerns that Fairfax may be unable to line up funding or partners for its takeover offer, a person with knowledge of the matter said.
Companies such as SAP AG (SAP), Cisco Systems Inc. and Samsung, which were approached last week by BlackBerry advisers, have indicated they’re only interested in parts of the company, people familiar with the discussion said.
A breakup would let parties bid for BlackBerry’s most valuable pieces, such as its patents or enterprise network, said the people, who asked not to be identified because the talks are private.
To contact the reporters on this story: Hugo Miller in Toronto at hugomiller@bloomberg.net; Katia Dmitrieva in Toronto at edmitrieva1@bloomberg.net
To contact the editor responsible for this story: Nick Turner at nturner7@bloomberg.net

Source: http://mobile.businessweek.com/news/2013-10-10/blackberry-co-founders-lazaridis-fregin-consider-takeover

BlackBerry In US Federal Law Suit:Pearlstein et al v. BlackBerry Inc et al, U.S. District Court, Southern District of New York, No. 13-7060

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A class action suit has been filed in the US Federal Court’s SDNY: Pearlstein et al v. BlackBerry Inc et al, U.S. District Court, Southern District of New York, No. 13-7060.  Reuters reports:

By Nick Brown

NEW YORK | Fri Oct 4, 2013 9:35pm EDT

(Reuters) – A shareholder of BlackBerry Ltd sued the company and its executives on Friday, accusing them of inflating the stock price by painting a misleadingly rosy picture of the business prospects of its BlackBerry 10 smartphone line.

Waterloo, Ontario-based BlackBerry, formerly Research In Motion Ltd, misled investors last year by saying that the company was “progressing on its financial and operational commitments,” and that previews of its BlackBerry 10 platform were well received by developers, according to shareholder Marvin Pearlstein in a lawsuit lodged in Manhattan federal court.

Pearlstein is seeking to represent a class of “thousands” of shareholders who bought stock between September 27, 2012, when the company touted its strong financial position, and September 20 of this year, when it revealed it would have to write down between $930 million and $960 million related to unsold BlackBerry 10 devices, according to the lawsuit.

“In reality, the BlackBerry 10 was not well-received by the market, and the company was forced to … lay off approximately 4,500 employees, totaling approximately 40 percent of its total workforce,” the complaint alleges.

In addition to BlackBerry, Chief Executive Thorsten Heins and Chief Financial Officer Brian Bidulka are named as defendants. A spokeswoman for BlackBerry declined to comment.

BlackBerry put itself on the block in August after bleeding market share to other smartphone makers over the past few years, namely Apple Inc and Google Inc. It accepted a tentative offer of $4.7 billion from Fairfax Financial Holdings last month.

Several sources close to the matter told Reuters the company is in talks with Cisco Systems,Google and SAP about selling all or part of itself. BlackBerry has also asked for preliminary expressions of interest from Intel Corp and Asian companies LG and Samsung by early next week. Cerberus Capital Management was reported to have expressed such interest on Wednesday.

According to the lawsuit, the write-down announced on September 20 sent stocks reeling, with share price dropping 24 percent, from $10.52 on September 19 to $8.01 on September 25. The 35-page complaint asserts two violations of the Securities and Exchange Act of 1934.

It is not the first time BlackBerry has been in trouble with investors. A judge threw out a 2011 lawsuit by a proposed class of stockholders who said the company misled them about the prospects of its then-new line of tablet and other products. The plaintiffs in that case have appealed the decision.

The latest lawsuit is Pearlstein et al v. BlackBerry Inc et al, U.S. District Court, Southern District of New York, No. 13-7060.

(Reporting by Nick Brown; Editing by Prudence Crowther)

 

source: http://www.reuters.com/article/2013/10/05/us-blackberry-lawsuit-idUSBRE99400U20131005

 

From The Wall Street Journal:

 

Kahn Swick & Foti, LLC and Former Louisiana Attorney General File Suit Against BlackBerry Limited: Remind Investors With Large Financial Interests of Important December 3, 2013 Deadline – BBRY

NEW ORLEANS, LA–(Marketwired – Oct 4, 2013) – Kahn Swick & Foti, LLC (“KSF”) and KSF partner, Former Attorney General of Louisiana Charles C. Foti, Jr., announce the commencement of the firm’s securities class action lawsuit against BlackBerry Limited (“BlackBerry” or the “Company”) (NASDAQ: BBRY). The lawsuit was filed in the United States District Court for the Southern District of New York on behalf of purchasers of BlackBerry common stock between September 27, 2012 and September 20, 2013 (the “Class Period”).

What You May Do

If you are a BlackBerry shareholder and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, e-mail or call KSF Managing Partner, Lewis Kahn (lewis.kahn@ksfcounsel.com), or KSF Partner Melinda Nicholson (melinda.nicholson@ksfcounsel.com), toll free at 1-877-515-1850. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by December 3, 2013. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. KSF encourages both institutional and individual purchasers of BlackBerry to contact the firm. The ultimate resolution of any securities class action is strengthened through the involvement of aggrieved shareholders and lead plaintiffs who have large financial interests. KSF also encourages anyone with information regarding BlackBerry’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.

About the Lawsuit

BlackBerry and certain of its officers and directors are charged with making a series of materially false and misleading statements and omissions related to the Company’s business and operations in violation of the Securities Exchange Act of 1934. Specifically, BlackBerry failed to inform investors that, contrary to the Company’s statements that its new BlackBerry 10 line of smart phones financially strengthened BlackBerry and positioned the Company on the road to recovery, BlackBerry’s business, operations and financial situation was made even worse by the introduction of the BlackBerry 10 platform, which was poorly received by the market.

On September 20, 2013, BlackBerry announced the true state of the Company, which incurred massive charges due to unsold BlackBerry 10 devices and was forced to lay-off approximately 40% of its workforce. In relevant part, the release explained:

[The Company] expects to report a primarily non-cash, pre-tax charge against inventory and supply commitments in the second quarter of approximately $930 million to $960 million, which is primarily attributable to BlackBerry Z10 devices.

Furthermore, the Company also announced that it is targeting an approximate 50% reduction in operating expenditures by the end of the first quarter of Fiscal 2015. As part of this, BlackBerry will implement a workforce reduction of approximately 4,500 positions or approximately 40% of the Company’s global workforce resulting in a total workforce of approximately 7,000 full-time global employees.

As a result of the foregoing disclosure, BlackBerry stock plummeted from a closing price of $10.52 per share on September 19, 2013 to a close of $8.73 per share on September 20, 2013. The value of BlackBerry stock continued to slide on heavy trading volume over the next few days as investors digested the bad news, and closed at $8.01 on September 25, 2013.

About Kahn Swick & Foti, LLC

To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit http://www.ksfcounsel.com.

Contact:

Kahn Swick & Foti, LLC

Lewis Kahn

Managing Partner

lewis.kahn@ksfcounsel.com

Melinda Nicholson

Partner

melinda.nicholson@ksfcounsel.com

1-877-515-1850

206 Covington St.

Madisonville, LA 70447

 

source: http://online.wsj.com/article/PR-CO-20131004-912833.html