RIM seeks probe into report on BlackBerry returns

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Associated Press

Posted on April 12, 2013 at 12:06 PM

TORONTO (AP) — The maker of the BlackBerry is seeking an investigation by U.S. and Canadian regulators into what it says is a "false and misleading" report by a financial analyst that claims the company's new smartphone is being returned in unusually high numbers.

Thorsten Heins, the CEO of Research In Motion Ltd., says returns of the new BlackBerry Z10 are in line with industry norms. In a statement Friday, Heins said Thursday's report from research and investment firm Detwiler Fenton is either a complete misreading of the data or a willful manipulation.

Detwiler Fenton didn't immediately respond to messages seeking comment.

RIM's stock fell nearly 8 percent on Thursday.

RIM, which is based in Waterloo, Canada, wants an investigation by the U.S. Securities and Exchange Commission and the Ontario Securities Commission.

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