Lawsuit Against Nokia Corporation (ADR) (NYSE:NOK) Dismissed

Lawsuit Against Nokia Corporation (ADR) (NYSE:NOK) Dismissed

Nokia Corporation (NYSE:NOK) has announced that the class action lawsuit that had been filed against it over its Windows phones has been dismissed—and it didn’t even have to pay a dime.

The smartphone maker released a statement today that said the plaintiffs agreed to dismiss the case without any compensation to be paid to “any plaintiff or their counsel.” Nokia Corporation (NYSE:NOK) said the complaint has been withdrawn, and the court has dismissed it with prejudice. The case had sought unspecified damages plus court costs.

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The lawsuit was filed in New York in May. Nokia Corporation (NYSE:NOK) said there was no merit for the case and said it planned to fight it. The plaintiffs claimed that Nokia had said its Windows 8 smartphones, including the Lumia handsets, would put an end to declines in its sales. Then Nokia warned investors that its reported sales of the devices would be lower than originally forecast.

Thus far Nokia hasn’t done just too bad in its sales of the Lumia handsets, which are its new flagship smartphone. In the company’s third quarter it reported sales of almost 3 million units. Also sales reports from international sales of the phone show warmer reception of it overseas.

Nonetheless Nokia has yet to see a full turnaround on its slumping sales. Last quarter the company reported $754 million in losses. The smartphone maker has been banking on its switch to the Windows platform for its phones to turn things around, but thus far the Windows 8 phones have not put up a significant challenge to the iPhone or to Android phones.