Reuters: Technology News: BlackBerry to ask regulators to probe report on returns

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BlackBerry to ask regulators to probe report on returns Apr 12th 2013, 12:59 Tweet Share this Email Print Related News BlackBerry posts surprise profit, but subscribers slip Thu, Mar 28 2013 BlackBerry shares dive on reports of muted U.S. debut for Z10 Fri, Mar 22 2013 A new Blackberry Z10 smartphone is displayed at a store in New York, March 22, 2013. Credit: Reuters/Brendan McDermid TORONTO | Fri Apr 12, 2013 8:59am EDT TORONTO (Reuters) - BlackBerry said on Friday it would ask securities regulators in Canada and the United States to probe a report about retail return rates for its new Z10 smartphone that it called "false and misleading." The Canadian company, which has pinned its turnaround hopes on its new BlackBerry 10 line, said return rates were at or below its forecasts and in line with industry norms. "To suggest otherwise is either a gross misreading of the data or a willful manipulation," Chief Executive Thorsten Heins said in a statement. "Such a conclusion is absolutely without basis and BlackBerry will not leave it unchallenged." BlackBerry said research and investment firm Detwiler Fenton had said Z10 smartphones were being returned in unusually high numbers, and had refused to share its report or its methods. The company said it would present a formal request to the Securities and Exchange Commission and the Ontario Securities commission over the next few days. Shares of Waterloo, Ontario-based BlackBerry fell 8.0 percent on Thursday. (Reporting by Allison Martell; Editing by Janet Guttsman and Bernadette Baum) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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