Deadline Reminder: The Law Offices of Howard G. Smith Reminds Investors of Expanded Class Period and Looming Deadline in the Class Action Lawsuit Against Nokia Corporation

Business Wire 15-May-2019 5:54 PM

Law Offices of Howard G. Smith reminds investors of the upcoming June 18, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Nokia Corporation ("Nokia" or the "Company") (NYSE: NOK) securities between April 15, 2015 and March 21, 2019, inclusive (the "Class Period").

Investors suffering losses on their Nokia investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

On March 21, 2019, the Company disclosed that it had been, "made aware of certain practices relating to compliance issues at the former Alcatel Lucent business [acquired by Nokia November 2016] that have raised concerns." Nokia then advised investors that it had initiated an internal investigation and that it was cooperating with regulatory authorities to resolve the matter. On this news, shares of Nokia fell $0.38 per share, or over 6%, to close at $5.88 on March 22, 2019, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Alcatel-Lucent had certain compliance issues; (2) that, as a result, the Company would be subject to regulatory scrutiny; (3) that, as a result, the Company was reasonably likely to face penalties and fines; and (4) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

If you purchased shares of Nokia during the Class Period you may move the Court no later than June 18, 2019 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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