MOBILE PHONE FIRM Motorola has failed to get a class-action lawsuit that accuses it of misleading investors thrown out.
The firm was responding to a lawsuit that alleges that it purposefully mislead investors when discussing its standing in the 3G phone market. The claims came at a bad time for the firm, during an earnings shortfall, but could now plunge it even deeper into critical waters.
According to Reuters Motorola's call for a dismissal was denied on Monday by
US District Court Judge Amy St. Eve.
St. Eve, says Reuters, identified a "genuine dispute" in whether the firm had mislead its investors when it told them that it could compete with Nokia and that its 3G product set was coming on nicely. Because of this she allowed the lawsuit to go ahead. µ
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