BlackBerry beats court appeal in U.S. shareholder lawsuit

Wed Aug 24, 2016 9:52am EDT
 
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Aug 24 (Reuters) - A U.S. appeals court on Wednesday upheld the dismissal of a lawsuit accusing BlackBerry Ltd of fraudulently inflating its stock price by painting a misleadingly upbeat picture of the prospects for its BlackBerry 10 smartphone line.

But while the 2nd U.S. Circuit Court of Appeals in New York agreed the lawsuit failed to state a plausible claim, it ordered a lower-court judge to reconsider whether the plaintiffs should be allowed to amend their complaint in light of new evidence. (Reporting by Nate Raymond in New York Editing by W Simon)