Watch Live

Tweet TWEET

BlackBerry Seeks U.S., Canadian Review of False Reports on Return Rates

BlackBerry Seeks U.S., Canadian Review of False Reports on Return Rates 
WATERLOO, ONTARIO -- (Marketwired) -- 04/12/13 -- BlackBerry(R)
(NASDAQ:BBRY)(TSX:BB), a world leader in mobile communications, today
said it would seek Securities and Exchange Commission and Ontario
Securities Commission review of a false and misleading report about
retail return rates for the Company's new BlackBerry Z10 smartphone. 
"Sales of the BlackBerry(R) Z10 are meeting expectations and the data
we have collected from our retail and carrier partners demonstrates
that customers are satisfied with their devices," said BlackBerry
President and CEO Thorsten Heins. "Return rate statistics show that
we are at or below our forecasts and right in line with the industry.
To suggest otherwise is either a gross misreading of the data or a
willful manipulation. Such a conclusion is absolutely without basis
and BlackBerry will not leave it unchallenged."  
BlackBerry and Verizon Wireless, the largest U.S. carrier, on
Thursday refuted claims from research and investment firm Detwiler
Fenton that BlackBerry Z10 devices were being returned in unusually
high numbers. Detwiler Fenton refused to make either its report to
investors or its methodology available to BlackBerry, even after the
Company said the firm's findings were "absolutely false." 
BlackBerry Chief Legal Officer Steve Zipperstein said: "These
materially false and misleading comments about device return rates in
the United States harm BlackBerry and our shareholders, and we call
upon the appropriate authorities in Canada and the United States to
conduct an immediate investigation. Everyone is entitled to their
opinion about the merits of the many competing products in the
smartphone industry, but when false statements of material fact are
deliberately purveyed for the purpose of influencing the markets a
red line has been crossed." 
Zipperstein said BlackBerry would present its formal request to U.S.
and Canadian regulators in the next several days.  
About BlackBerry 
A global leader in wireless innovation, BlackBerry(R) revolutionized
the mobile industry when it was introduced in 1999. Today, BlackBerry
aims to inspire the success of our millions of customers around the
world by continuously pushing the boundaries of mobile experiences.
Founded in 1984 and based in Waterloo, Ontario, BlackBerry operates
offices in North America, Europe, Asia Pacific and Latin America.
BlackBerry is currently listed on the NASDAQ Stock Market
(NASDAQ:BBRY) and the Toronto Stock Exchange (TSX:BB). For more
information, visit www.blackberry.com. 
Forward-looking statements in this news release are made pursuant to
the "safe harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995 and applicable Canadian securities
laws. When used herein, words such as "expect", "anticipate",
"estimate", "may", "will", "should", "intend," "believe", and similar
expressions, are intended to identify forward-looking statements.
Forward-looking statements are based on estimates and assumptions
made by RIM in light of its experience and its perception of
historical trends, current conditions and expected future
developments, as well as other factors that RIM believes are
appropriate in the circumstances. Many factors could cause RIM's
actual results, performance or achievements to differ materially from
those expressed or implied by the forward-looking statements,
including those described in the "Risk Factors" section of RIM's
Annual Information Form, which is included in its Annual Report on
Form 40-F (copies of which filings may be obtained at www.sedar.com
or www.sec.gov). These factors should be considered carefully, and
readers should not place undue reliance on RIM's forward-looking
statements. RIM has no intention and undertakes no obligation to
update or revise any forward-looking statements, whether as a result
of new information, future events or otherwise, except as required by
law. 
BlackBerry, RIM, Research In Motion and related trademarks, names and
logos are the property of Research In Motion Limited and are
registered and/or used in the U.S. and countries around the world.
All other brands, names and marks are the property of their
respective owners. RIM is not responsible for any third party
products or services.
Contacts:
Media Contact:
BlackBerry Media Relations
519-597-7273
mediarelations@blackberry.com 
Investor Contact:
BlackBerry Investor Relations
519-888-7465
investor_relations@blackberry.com
 
 
Press spacebar to pause and continue. Press esc to stop.