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Press Release: Class action complaint filed against Nokia in May 2012 has been dismissed

| December 13, 2012 | 32 Replies
 

 

Nokia Corporation
Stock exchange release
December 13, 2012 at 13.00 (CET+1)

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Espoo, Finland – Nokia Corporation announced on May 4, 2012 that it was aware of the filing of a securities class action complaint naming Nokia Corporation as a defendant. Also two of Nokia’s executives were named as defendants.  The case, entitled Chmielinski v. Nokia Corporation, was filed in the U.S. District Court for the Southern District of New York on May 3, 2012.  After further investigation, the plaintiffs have agreed to dismiss the case against all defendants without any compensation being paid to any plaintiff or their counsel by any defendant.  The complaint has been withdrawn and dismissed with prejudice by the court.

Cheers Peter L for the tip!

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Category: Nokia

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  • Keith too

    And the lawyers still gleefully walk away with the money they received from the cluess boneheads who thought this suit had a chance.

  • http://chriswwwright.wordpress.com Chris W

    any idea what they were actually suing Nokia for in the first place?

    • http://twitter.com/haranguemnb Harangue

      Had to do a little search for it as well, but it was about disappointing sales for the Lumia range. Basically Nokia said they were moving to WP to stop the decline in sales, that didn’t happen as we all know and investors/share holders got miffed by that and thought Nokia was misleading them.

      They were seeking damages (I think) or something because Nokia lied to them according to them.

      Investing or owning shares is a high risk business, if you aren’t prepared to take the loss you shouldn’t get in it. The higher the yield the higher the risk.

    • http://aligonemobile.blogspot.com/ Aliqudsi

      It was under the claim that Nokia had lied to the baord about Lumias success, as well as misrepresenting the Lumia in terms of sales.

      • twig

        Nokia WON IN COURT AGAINST APPLE today for 3 patents.

  • everlfr

    The only winner in all these Nokia fiasco, is our dear Steve Elop. Everyone else, the share holders, the Nokia employees, the loyal Nokia customers, lost out.

    Even if Elop is eventually fired, he would have a place to go back to if Ballmer is not a complete thankless SOB after all Elop has done for MS at the cost of Nokia.

    • everlfr

      But then again, Elop failed from the view point of Ballmer. Elop merely prevented MS effort in mobile from entirely drowning.

      A fictional dialogue from me for fun:

      Year 2010

      Elop: I got an offer from Nokia to be their CEO. Ballmer what should I do? I dont want to leave MS.

      Ballmer: Let us make use of this opportunity. Why dont you accept the offer.

      Elop: But what do I know about mobile business? Beside I hate Moose meat.

      Ballmer: If you turn the biggest and mightiest mobile empire called Nokia into MS serf, and thereby establish our dominance in mobile, I dont need to say who I will support as my successor.

      Elop: Seriously you mean?

      Year 2013

      Ballmer: Elop, what are you doing here in Seattle?

      Elop: I got fired from Nokia so I came back.

      Ballmer: Come back to what?

      Elop: Dont you remember your promise?

      Ballmer: Now you little sack of sh#t, I never promised anything. Beside you failed completely.

      Elop: But I did my best and stayed so loyal. Ah fu#k u Ballmer and MS. I only now realize what a tool I had been.

      (With this word, Elop commits Sepuku as a redeeming honorable act taking responsibility to have failed once great company and his own maste)

      • MOOking

        hakajiri

    • Keith too

      When we have products like the Lumia 920 now I would say the entire world has benefited.

      • Oleg Derevenetz

        We could have them without all these insane things in last 2 years as well. In fact, we could have new Harmattan-powered and Meltemi-powered devices as well, not only Lumias.

        • Noki

          nooooo it can only be the MS blessed OS because nothing else works, shuss!
          For crying out loud even meltemi had to be killed, how hard it would be to scale ashas up the value scale as an alternative strategy, but maybe that was the problem, it would have been to easy to do that so it had to be terminated….

          pffffffff.

          • MOOking

            it’s not american so it so i automatically doesn’t do well -___-

          • Spede oli aliarvostettu

            Nokia laid off 730 persons from Ulm, Germany. The Ulm R&D site was focused on developing Symbian. On the other thread you claimed that only 80 persons were working on Meltemi. While 730 people are not making cost like the Symbian staff did, it’s still more than those 80 people you suggested.

            Maybe you should check your numbers?

            Besides, Asha has already filled the gap Meltemi was going to fill by the end of 2012. And long time before Meltemi would have been able to do that. It’s apparent that Meltemi was not able to deliver on time.

            In a year or two Android hardware is going to be so cheap that it will hit the same price point where Meltemi was intended to compete. What would have been the point for having Meltemi competing in low end while Android was going to eat that market?

            • Spede oli aliarvostettu

              Question mark missing from the ” The Ulm R&D site was focused on developing Symbian?”

            • Oleg Derevenetz

              “What would have been the point for having Meltemi competing in low end while Android was going to eat that market?”

              The purpose for Meltemi was exactly to fight Android in the low-end sector. If things were done wisely (solid unambiguous policy to build a real Qt ecosystem), this can be possible. However, by choosing Asha way (i.e. the same old S40 way), Nokia’s low-end sector is doomed – it will be eventually eaten by Android. For example, if we take app development, to develop apps for S40 using J2ME or WebApps is a real PAIN in comparison with Qt or Android SDK (if you have ever developed something for these platforms, you should know). There are already negative consequences – lack of S40 apps: their number in Nokia Store is MUCH smaller than Symbian or even Meego apps. Nobody want to develop apps using ancient J2ME-based Nokia S40 SDK. However, if there would be support for Qt in low-end sector, all these Qt-based apps targeted for Symbian/Meego would have been available for low-end devices as well.

              • Spede oli aliarvostettu

                If the Qt was a solid “framework” in the mobile, it would have made sense. However it seems that it wasn’t ready for that in early 2011. No one knows when that was gong to happen because Nokia was never very good with developing software. The implementations were somewhat incompatible and it wasn’t really so easy to develop once and deploy anywhere.

                It’s also questionable how big the difference was/is when you were choosing whether to develop for iOS or for Qt. It was supposed to be easier compared to Android development, but how much in development time?

                The benefit for developing with Qt is the ability to port the application with little or no work. Unfortunately that would have happened mostly between Nokia branded phones. It wasn’t helping to develop for iOS or Android. In mobile all the Nokia branded phones together were just a fraction of what iOS and Android had to offer. It was never realistic to count those old Nokia phones without touch screens.

                While Meego was dead and Symbian dying, there was little hope for Meltemi alone to support the Qt development. That’s why it was actually reasonable to kill Meltemi after Meego was gone.

                Qt seems to be a holy relic some people think as a mythical beast making everything happen. You can port, but with iOS you don’t have to port if you want to gain a wide audience in mobile. With Android, it’s more like testing and no porting.

                • Oleg Derevenetz

                  We are now talking about Meltemi vs S40, right? While there may be some issues when porting Qt apps between Nokia phones, it’s 100 times worse to port app from Qt (or Android SDK, or Silverlight) to Java ME because of ancient interface library, lack of async tasks (I/O, networking), lack of elementary libraries (like regexp or XML parser library – there are some 3rd party, of course, but they have different quality). Qt, Silverlight, Android and iOS SDK are at least comparable in terms of features and convenience. Java ME? No, thanks. Not to mention the fact that Qt may become available on other platforms as well (at least it is there already on Blackberry, there is non-official Android port as well, and Digia promises to make official Android and even iOS ports, if I remember correctly).

                  • Spede oli aliarvostettu

                    Yes, that’s what we are talking about.

                    It’s true that Java ME sucks in comparison to the Qt. It may have been possible that supporting Qt only for Meltemi was too much for Nokia. Asha is clearly an temporary solution and I have reasons to believe that Meltemi was also a temporary solution just because of the lower hardware requirements in the future. Native code has advantages but JIT compilers will be more and more advanced.

                    Anyone can’t count on Qt being supported on some platform in the future. That’s a promise we have heard too many times. Nokia actually encouraged Qt developers to start developing Qt application for Symbian back in 2008. Mobile application development can take only few months. Almost everyone developing those Qt applications back then was probably disappointed because it took almost three years to get any practical real world support for those Qt applications.

                    I wouldn’t do anything for a mobile platform someone like Nokia (Nokia from 2008) tells they will be supporting in the future. They were not able to deliver a truly operational cross platform mobile Qt in three years.

                    • Oleg Derevenetz

                      Qt may or may not be supported on other platforms. But, while we are talking about Meltemi vs S40, it’s not really relevant. Qt have at least some chance to attract developers and become portable, while Java ME have no chances at all. It’s just hopeless. I agree that Asha is a temporary solution – just because Android will take away this segment from Nokia eventually. Nokia could try to change something (Meltemi) or just go with the flow (Asha). We all know that they have chosen. With Meltemi Nokia had at least some chances to resist Android – due to modern SDK that simplifies porting and attracts developers (Meltemi should be a cool thing for them – at least considering sale volumes of cheap phones), and cool interface solutions inherited from N9. Who knows what would happen in the future? But S40? Hell, no.

                    • Noki

                      Meltemi was a victim of WP ineptitude to capture users, would have wp captured users and nokia would have put more efort in to having a strategy for low cost smartphone area, but since WP failed any possible meltemi successes would be view as a threat to WP only strategy. Meltemi was ready almost a year ago.

                    • Spede oli aliarvostettu

                      Meltemi was not ready when it was cancelled. It would have been by Christmas 2012. Or that’s what was in the schedule if it was not failing.

                      In a fantasy land, Meltemi cost next to nothing to develop and it was ready years ago. In reality, it cost some real money and it was not ready while Asha was.

                      Oleg, Meltemi was not ready to ship when Asha was. The windows of opportunity is closing for Nokia and Meltemi alone was never able to win in low end because Nokia would have been alone with it. Alone against Android supported by vast number of companies. Qt support or not. Android was just too powerful delivering very soon powerful phones with the same price as Meltemi. With volumes, maybe even cheaper phones.

                    • Oleg Derevenetz

                      Spede oli aliarvostettu,

                      “Meltemi alone was never able to win in low end because Nokia would have been alone with it. Alone against Android supported by vast number of companies.”

                      It reminds me a similar statements back in 2007, regarding iOS against Symbian and Windows Mobile. All of what we learn from history, is “nobody knows for sure” :)

                      BTW, your statement is also applicable to Windows Phone. “Windows Phone alone is never able to win in high and low end because Nokia would have been alone with it. Alone against Android supported by vast number of companies.” (well, on paper Nokia isn’t alone, but in fact is – it makes vast majority of WP sales). Let me repeat – nobody knows for sure :) We should try and see. In case with Meltemi, unlike Windows Phone, Nokia not even tried.

                      “Meltemi was not ready to ship when Asha was.”

                      May be, but maybe not. Different sources say different things about this.

                    • Spede oli aliarvostettu

                      It’s true that “impossible” just might happen. Apple proved it can be done.

                      The differences between Meltemi and iOS are mostly on the price point and market saturation.

                      When Apple launched the original iPhone, it was a revolutionary product because no one else was offering anything like it. Capacitive touch screen in a phone was something new for the consumers and there was hardly any real competition on that area. Today it’s completely different.

                      Apple targeted the iPhone for the high end. It had a premium price and that was possible because Apple invented the modern smartphone with the iPhone. Meltemi would have been targeted for the low end competing with existing product backed by huge 3rd party application support. There was no applications for Meltemi. While some Qt applications could have been ported, it was obvious that there were a very limited number of mobile Qt applications available, for any mobile platform.

                      Windows Phone is supported by multiple vendors and Nokia is not alone with it. It’s true that Nokia is shipping most WP phones but it’s not alone.

                      If Nokia was going to target Meltemi for 50€ phones, what would have been the reason for consumers to buy it instead of 50€ Android phone? Both working without a lag. Android is going to hit the 50€ barrier and it won’t take that long before 50€ hardware will be able to run Android without problems.

                      It’s probable that Meltemi had less overhead compared to Android so Nokia could have been able to run it with lower hardware specs. But is it enough to offer Device for 45€ when comparable Android phone would be 50€? Would that be tempting enough for the consumers? Even while Android had more applications and more manufacturers to support it?

                • Noki

                  gess thats the reason Qt is the foundation block for BB10 and Joola because its not ready…..

                  “and it wasn’t really so easy to develop once and deploy anywhere” I ported my apps from Harmatan to BB10 in less than a few minutes…

                  • Spede oli aliarvostettu

                    Qt was not so very well done for Symbian. And it was namely Symbian applications the developers were supposed to port.

              • http://xlr Chandan

                I really agree with you…

            • Noki

              I knew quite a few of them and they told me that number…

              • Spede oli aliarvostettu

                Now so do I and I was told that Ulm number is more like the truth. While there was more people…

                So, Nokia had a R&D site focused on developing Meltemi. Now when they lay off 730 persons from there, you claim there were just 80 of them? Yes, maybe all the news sites have misunderstood and you had the correct number?

                Maybe developing Meltemi required only those developers and there was no externals and sub contractors working for the platform? There surely wasn’t anyone in Finland testing, managing and planning anything.

                It’s a great story to think that it cost next to nothing to develop Meltemi. Unfortunately it’s not possible to run Nokia with such a great stories.

                • everlfr

                  i think you should drink more water and loosen up

                • Noki

                  Maybe developing Meltemi required only those developers and there was no externals and sub contractors working for the platform?
                  AFIK that was the biggest change from meego days (almost no externals were working in meltemi), but that really was mostly possible because the bulk of the work for auxiliary non core technologies add been done in meego time.

      • everlfr

        oh please!

  • http://xlr Chandan

    nokia is finished in s40 for low end and nokia-microsoft partnership…
    I still believe if nokia get rid off microsoft he will come back with amazing new os.Not just like “something new”.It will totally different.If nokia is dedicated to microsoft they can build s40 replacement os like meltemi project.Why not they think about ecosystem concerned with billion peoples and it possible only with hardware acceleration with low cost mobiles with all features…Full experience at low cost only..Now billion peoples connected with one os canot create burden or load on company for maintainance.To get rid of this they have to licence major manufacture of mobile.For example app inovation should be like daily home used anywhere such as switching on/off devices,bluetooth based apps enhancement.R&D plays important role in this…..
    People not hate nokia partnership with microsoft..They hate monopoly.This is about concerning about Windows phone at high price,abdoned projects meego,meltemi and not take care of extremely low budget smartphone user between 7000-9000 rupees.No flexibilty in budget os .No openess…
    Some hope if they build amazing….
    Best Luck to nokia what i have seen in my earn model nokia 3500c,5300 xpress,n-gauge…

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