BlackBerry Maker RIM Should Be Sued For Lying To Investors: Apple Ex-Exec

Jean-Louis Gassée, former president of Apple’s products division

Photo: Allegis Capital

BlackBerry maker Research in Motion might get sued for insisting it’s doing just fine despite an epic delay of its new operating system.RIM’s insistence that everything is just rosy when it’s clearly not could – and should – spur shareholders to sue the company, Jean-Louis Gassée, former president of Apple’s products division, told The New York Times Sunday.

“When the CEO says there’s nothing wrong with the company as it is, it’s not cautious, it doesn’t make sense,” Gassée told the paper.

RIM’s CEO Thorsten Heins went on a PR offensive last week after RIM announced a $518 million quarterly loss and the delay of its BlackBerry 10 operating system until 2013, the New York Times reported Sunday.

“There’s nothing wrong with the company as it exists right now,” Heins reportedly said.

Despite speculation that the statements could spur litigation, one expert told the Times she wasn’t shocked by Heins’ assessment that the company was doing well despite the recent bad news.

“Everybody expects the chief executive to put an optimistic spin on the company,” said Jill E. Fisch, a professor at the University of Pennsylvania Law School. “To be fair, we all know that RIM is a struggling company.”

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