BlackBerry To Settle Class Action Lawsuit

BlackBerry Limited (BB,BB.TO) has reached an agreement in principle to settle the consolidated securities class action lawsuit captioned Pearlstein v. Blackberry Limited pending against the company and certain of its former officers in a U.S. District Court. The agreement in principle contemplates an aggregate cash payment by the company of $165 million to settle the claims brought on behalf of all persons who purchased or otherwise acquired BlackBerry shares on the NASDAQ between March 28, 2013 and September 20, 2013. The class action complaint was filed in October 2013.

BlackBerry expects the $165 million to settle the claims will be incorporated into its results of operations and financial condition for the fiscal quarter ending May 31, 2022.

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