BlackBerry Seeks U.S., Canadian Review of False Reports on Return Rates

Fri Apr 12, 2013 8:30am EDT

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  WATERLOO, ONTARIO, Apr 12 (Marketwired) --
BlackBerry(R) (NASDAQ:BBRY)(TSX:BB), a world leader in mobile
communications, today said it would seek Securities and Exchange
Commission and Ontario Securities Commission review of a false and
misleading report about retail return rates for the Company's new
BlackBerry Z10 smartphone.

    "Sales of the BlackBerry(R) Z10 are meeting expectations and the data we
have collected from our retail and carrier partners demonstrates that
customers are satisfied with their devices," said BlackBerry President
and CEO Thorsten Heins. "Return rate statistics show that we are at or
below our forecasts and right in line with the industry. To suggest
otherwise is either a gross misreading of the data or a willful
manipulation. Such a conclusion is absolutely without basis and
BlackBerry will not leave it unchallenged." 

    BlackBerry and Verizon Wireless, the largest U.S. carrier, on Thursday
refuted claims from research and investment firm Detwiler Fenton that
BlackBerry Z10 devices were being returned in unusually high numbers.
Detwiler Fenton refused to make either its report to investors or its
methodology available to BlackBerry, even after the Company said the
firm's findings were "absolutely false."

    BlackBerry Chief Legal Officer Steve Zipperstein said: "These materially
false and misleading comments about device return rates in the United
States harm BlackBerry and our shareholders, and we call upon the
appropriate authorities in Canada and the United States to conduct an
immediate investigation. Everyone is entitled to their opinion about the
merits of the many competing products in the smartphone industry, but
when false statements of material fact are deliberately purveyed for the
purpose of influencing the markets a red line has been crossed."

    Zipperstein said BlackBerry would present its formal request to U.S. and
Canadian regulators in the next several days. 

    About BlackBerry

    A global leader in wireless innovation, BlackBerry(R) revolutionized the
mobile industry when it was introduced in 1999. Today, BlackBerry aims to
inspire the success of our millions of customers around the world by
continuously pushing the boundaries of mobile experiences. Founded in
1984 and based in Waterloo, Ontario, BlackBerry operates offices in North
America, Europe, Asia Pacific and Latin America. BlackBerry is currently
listed on the NASDAQ Stock Market (NASDAQ:BBRY) and the Toronto Stock
Exchange (TSX:BB). For more information, visit

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Media Contact:
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