RIM Investigated For Possible Securities Law Violations

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Research In Motion (RIM) is being investigated for possible violations of securities law by law firm Holzer Holzer & Fistel, Reuters reports.

The firm is examining specifically whether statements about the company's business between December 16, 2010 and April 28, 2011 were false and misleading. In particular, the firm is looking into whether RIM knew that it was having problems with an old product line that negatively affected the company's business, and failed to disclose these problems.

RIM stocks have dropped over 38 percent since Februrary. The same law firm launched an investigation against Palm in March for releasing misleading statements about demand for its products.

via BGR

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