Company Nokia is accused of fraud
February 9, 2010 – 2:45 am 
largest mobile phone manufacturer in the world – the company Nokia – intends to defend themselves against complaints of fraud in transactions in securities, informs Bloomberg.
A complaint was filed by the owners of American Depositary Receipts ( ADR) on February 5.
Investors believe that the company in 2008, concealed the facts of the backlog in production, resulting in lower prices for phones and reduce operating margins. According to the Americans, Nokia was well aware of the delays in the beginning of 2008.
In 2008, Nokia is facing increasing competition in the market and began to actively reduce prices. Coupled with delays in output is led to a reduction in operating margin from 21,6 to 18,6 per cent during the two quarters. The cost of ADR, meanwhile, decreased from 38.25 dollars to 20.62 dollars.
Finnish Nokia has suffered significant losses due to the global financial crisis. The company had to move or close several facilities and dismiss about 2 thousand people.
American depositary receipts are used to ensure that U.S. banks could invest in companies whose shares are not traded on U.S. exchanges.
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