InterDigital Inc (IDCC)

[nieves]

OT:US court dismisses claims against Nokia
Sat Apr 1, 2006 12:13 PM ET


HELSINKI (Reuters) - Nokia (NOK1V.HE: Quote, Profile, Research) said on Saturday district court of Southern District of New York had dismissed all claims made in a class action litigation filed against it and several of its executives in April 2004.

"Judge Karas dismissed with prejudice each and every claim against Nokia Corporation and the individual defendants," Nokia said in a statement.

On April 6 2004 Milberg Weiss law firm filed the class action suit after Nokia said its first quarter sales would drop 2 percent year-on-year instead of earlier forecast of a rise.

Finnish Nokia, the world's largest cellphone maker, said the judge also denied plaintiffs the opportunity to file a second or amended complaint.

Nokia said it is very pleased with the decision.

In 2004 Nokia lost market share to its rivals like Samsung Electronics (005930.KS: Quote, Profile, Research) and Motorola (MOT.N: Quote, Profile, Research) due to lack of folding phones and its shares dropped sharply in April.