Nokia hides information from US investors in class action

Beijing Time February 6 Noon news, according to foreign media reports, investors in Friday to the United States Federal Court of New York filed a lawsuit, accusing Nokia 2008 concealed production delayed information, coupled with the implementation of the strategy, resulting in mobile phone prices and operating profit margins slipped. This is the source of Nokia's US depository Receipts (hereinafter referred to as "ADR") by investors, and submitted to the U.S. District Court in New York in Friday local time. Investors believe Nokia was aware of the postponement of production of mid-sized handsets in early 2008.　　In an indictment, investors said Nokia had not only concealed the fact from investors, but also stressed the company's expectations for several new handsets.　　In the face of increasingly fierce competition, Nokia began lowering prices and delaying production, leaving the company's operating profit margins down from 21.2% in the first quarter of 2008 to 18.6%,adr in the third quarter from 38.25 to $20.62, the indictment said.　　Nokia spokeswoman Lauri Armstrong Laurie Armstrong said Nokia was aware of the case but had not immediately commented on the matter. ADR is issued by U.S. banks to help us investors invest in foreign companies. Each share of the Nokia ADR represents a common stock. Nokia's ADR fell 0.35 cents to $13.39, or 2.55%, in the Friday NYSE deal. (Ding Macro)