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Siskinds LLP represents the Plaintiff in a securities class action against BlackBerry Limited (“BlackBerry”) and certain of BlackBerry’s former officers and directors in the Ontario Superior Court of Justice.

The class action has been brought on behalf of all persons, wherever resident, who acquired BlackBerry’s common shares or other securities from March 28, 2013 through to September 20, 2013, inclusively, and continued to hold some or all of those securities as of the close of trading on September 20, 2013. Certain persons affiliated with the defendants are excluded from this class action.

The action alleges that during this time period the revenues recorded by BlackBerry for its BlackBerry 10 smartphones were materially false and misleading.


By Order dated February 5, 2019, the Ontario Superior Court of Justice certified this proceeding as a class action on behalf of a group of investors who purchased BlackBerry’s common shares between March 28, 2013 and September 20, 2013, both dates inclusive (“Class” or “Class Members”). Please review the detailed notice available below for a description of the Class, as well as very important information about this class action and your rights, if applicable.

Long-Form Notice of Certification and Opt-Out Procedure - English
Long-Form Notice of Certification and Opt-Out Procedure - French

If you are a Class Member, as defined in the notice, you are automatically included in the class action at no costs to you, and you will stand to participate in the outcome of the class action when it may be resolved. If you are a Class Member, as defined in the notice, and wish to participate in this class action, you are not required to do anything at this time. Class Counsel will publish further information in the future when more information becomes available.

If, however, you wish to exclude yourself from the class action, you must opt out of the class action by no later than May 6, 2019, in accordance with the procedure set out in the notice. Investors who opt out and exclude themselves from the class action will not be eligible to participate in the resolution of the action when it may be resolved in the future.

Developments

In October 2015, the Ontario Superior Court of Justice heard the plaintiff’s motion for leave to pursue, as against the defendants, the statutory secondary market liability claims provided under Part XXIII.1 of the Ontario Securities Act and the concordant provisions of the securities legislation of the other Canadian Provinces and Territories. Leave was granted by Court Order dated November 17, 2015. A copy of the Court’s reasons in granting leave can be obtained under the heading “Documents.”

On January 22, 2016, the Court heard the plaintiff’s motion for certification of this class proceeding. By Order dated January 26, 2016, the Court certified this class action on behalf of BlackBerry’s investors, except the Court directed that the scope of the class will be determined at a later stage in the near future after the defendants have brought a forum non conveniens motion. At that stage, the Court will determine whether investors who, during the relevant period, acquired BlackBerry’s securities on the NASDAQ and other exchanges located in the United States will be included in this class action. The parties are currently in the process of scheduling this motion. Further information will be provided here as it becomes available.

FAQs

What is a Class Action?

A class action is a lawsuit that is brought by one or more persons on behalf of a larger group of people whose claims share common legal and/or factual issues. Such people are commonly referenced as “class members.” Class actions provide a cost-effective way for groups of people with common interests to pursue a legal claim.

Who is affected by the BlackBerry class action?

You are affected by this class action and would be a “member” of the class if you acquired BlackBerry’s common shares or other securities from March 28, 2013 through to September 20, 2013, inclusively, and continued to hold some or all of those securities as of the close of trading on September 20, 2013.

Do I have to pay anything to participate in the class action?

No. Class members do not incur costs in connection with the class action. Class action lawyers are usually paid on a contingency basis. This means that class counsel are only paid if successful. Class counsel are paid a percentage of any settlement or court award. Class counsel fees are subject to court approval.

What does “certification” mean?

Certification is the motion where the court determines whether the action can properly be pursued as a class action on behalf of the class members. In certifying the lawsuit as a class action, the court will consider factors such as whether the claims of the class members raise common legal and/or factual issues and whether a class action is the preferable method of pursuing the claims (as opposed to other methods, such as individual actions). After the court certifies the lawsuit as a class action, usually notices will be disseminated to the class members. These notices will advise the class members that the lawsuit has been certified, and they will also set out the issues that the court will be asked to determine on behalf of the class members. At this stage, the court will also fix a time period during which the class members may exclude themselves from the class action lawsuit by filing an opt-out form. Class members who do not opt from the class action by the deadline that will be fixed by the court will be bound by the outcome of the class action.

How can I join the class action?

There are no steps required to “join” this class action. Assuming you fall within the scope of the class definition, you would be automatically included in the class action unless you “opt out” (exclude yourself from the class action) after the lawsuit has been certified as a class action. Notices will be issued to the affected persons after the court certifies the class action.

Can I exclude myself from the class action?

Yes. After the class action is certified, you will be given an opportunity to opt out (exclude yourself from the class action). If you opt out, you will not be able to participate in any settlement or court award achieved in the class action, but you may be able to pursue your claim on an individual basis. Generally speaking, the class members would only want to opt out of a class action if they intend to bring individual litigation. In most circumstances, it is more cost effective to participate in a class action because the legal costs are spread over a large number of people, making it more economic for any individual class member to obtain relief.

What should I do to protect my rights?

To protect your rights, you should:

  1. Keep records of any purchases and sales of the common shares or other securities of BlackBerry during the period of March 28, 2013 through September 20, 2013, inclusive.
  2. Register with Siskinds in order to receive updates about the class action by filling out the form below. By submitting your information to Siskinds you do not retain Siskinds as your lawyers, nor do you incur costs in connection with this class action.
  3. While the class action is pending, notices will be disseminated to the class members advising that they should take certain steps by specific deadlines in order to preserve their rights. This information will also be made available on Siskinds’ website. These deadlines will usually be fixed by the courts, and will need to be adhered with in order to protect your rights.

I still have a question. Who should I contact?

If you have any other questions, please complete the contact form below.

In October 2015, the Ontario Superior Court of Justice heard the plaintiff’s motion for leave to pursue, as against the defendants, the statutory secondary market liability claims provided under Part XXIII.1 of the Ontario Securities Act and the concordant provisions of the securities legislation of the other Canadian Provinces and Territories. Leave was granted by Court Order dated November 17, 2015. A copy of the Court’s reasons in granting leave can be obtained under the heading “Documents.”

On January 22, 2016, the Court heard the plaintiff’s motion for certification of this class proceeding. By Order dated January 26, 2016, the Court certified this class action on behalf of BlackBerry’s investors, except the Court directed that the scope of the class will be determined at a later stage in the near future after the defendants have brought a forum non conveniens motion. At that stage, the Court will determine whether investors who, during the relevant period, acquired BlackBerry’s securities on the NASDAQ and other exchanges located in the United States will be included in this class action. The parties are currently in the process of scheduling this motion. Further information will be provided here as it becomes available.

What is a Class Action?

A class action is a lawsuit that is brought by one or more persons on behalf of a larger group of people whose claims share common legal and/or factual issues. Such people are commonly referenced as “class members.” Class actions provide a cost-effective way for groups of people with common interests to pursue a legal claim.

Who is affected by the BlackBerry class action?

You are affected by this class action and would be a “member” of the class if you acquired BlackBerry’s common shares or other securities from March 28, 2013 through to September 20, 2013, inclusively, and continued to hold some or all of those securities as of the close of trading on September 20, 2013.

Do I have to pay anything to participate in the class action?

No. Class members do not incur costs in connection with the class action. Class action lawyers are usually paid on a contingency basis. This means that class counsel are only paid if successful. Class counsel are paid a percentage of any settlement or court award. Class counsel fees are subject to court approval.

What does “certification” mean?

Certification is the motion where the court determines whether the action can properly be pursued as a class action on behalf of the class members. In certifying the lawsuit as a class action, the court will consider factors such as whether the claims of the class members raise common legal and/or factual issues and whether a class action is the preferable method of pursuing the claims (as opposed to other methods, such as individual actions). After the court certifies the lawsuit as a class action, usually notices will be disseminated to the class members. These notices will advise the class members that the lawsuit has been certified, and they will also set out the issues that the court will be asked to determine on behalf of the class members. At this stage, the court will also fix a time period during which the class members may exclude themselves from the class action lawsuit by filing an opt-out form. Class members who do not opt from the class action by the deadline that will be fixed by the court will be bound by the outcome of the class action.

How can I join the class action?

There are no steps required to “join” this class action. Assuming you fall within the scope of the class definition, you would be automatically included in the class action unless you “opt out” (exclude yourself from the class action) after the lawsuit has been certified as a class action. Notices will be issued to the affected persons after the court certifies the class action.

Can I exclude myself from the class action?

Yes. After the class action is certified, you will be given an opportunity to opt out (exclude yourself from the class action). If you opt out, you will not be able to participate in any settlement or court award achieved in the class action, but you may be able to pursue your claim on an individual basis. Generally speaking, the class members would only want to opt out of a class action if they intend to bring individual litigation. In most circumstances, it is more cost effective to participate in a class action because the legal costs are spread over a large number of people, making it more economic for any individual class member to obtain relief.

What should I do to protect my rights?

To protect your rights, you should:

  1. Keep records of any purchases and sales of the common shares or other securities of BlackBerry during the period of March 28, 2013 through September 20, 2013, inclusive.
  2. Register with Siskinds in order to receive updates about the class action by filling out the form below. By submitting your information to Siskinds you do not retain Siskinds as your lawyers, nor do you incur costs in connection with this class action.
  3. While the class action is pending, notices will be disseminated to the class members advising that they should take certain steps by specific deadlines in order to preserve their rights. This information will also be made available on Siskinds’ website. These deadlines will usually be fixed by the courts, and will need to be adhered with in order to protect your rights.

I still have a question. Who should I contact?

If you have any other questions, please complete the contact form below.

Contact Us

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