Nokia is under scrutiny from its investors who are concerned that the Finnish company is not turning things around fast enough with Windows Phone. One investor, Robert Chmielinski, is so fed up that he filed a class action lawsuit against the company in US District Court in New York. Not surprisingly, Nokia denies the allegations that it misled investors with Windows Phone and says it is on the right track.
In a statement provided to TechCrunch, Nokia says it is “reviewing the allegations contained in the complaint and believes that they are without merit. Nokia will defend itself against the complaint.” In another defense of the company, Chairman Risto Siilasmaa told Reuters that “I am confident that Nokia has the right team, right strategy and now increasingly also the right products on the market to get us through this transition period.”
Only time will tell if Nokia can make it through this difficult time. The Lumia shows promise, but it may be too little, too late for the company’s increasingly worried investors.
[Via Reuters and TechCrunch]