RIM Shareholder Class Action Dismissed

Skadden represented Research In Motion, Ltd (RIM) — the maker of Blackberry — and certain of its officers in the dismissal with prejudice of a securities class action alleging that RIM made materially false and misleading statements regarding its financial condition and business prospects. On March 29, Judge Richard Sullivan of the U.S. District Court for the Southern District of New York granted Skadden's motion to dismiss the claims, agreeing that the plaintiff failed to plead scienter and materiality as to the alleged misstatements and omissions.