BlackBerry plans to settle shareholder lawsuit over BlackBerry 10. The company is looking to avoid any legal trial over the company. The BlackBerry brand lost favor with users when the rivalry was available like iPhones and Android phones.

Highlights

BlackBerry 10 received positive reviews from critics
The selection of the jury will begin on Thursday
Cybersecurity is the main concern for BlackBerry

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BlackBerry is planning to settle its eight-year-old lawsuit claiming it defrauded shareholders by overstating demand for its BlackBerry 10. While the trial is going on in the US, the lawyers for BlackBerry Company and the shareholders asked the presiding judge to adjourn the trial so that they can look forward to making some preliminary settlement, which requires the judge’s approval.

The selection process by jury had been scheduled to begin on Thursday. Lawyers for shareholders didn’t answer immediately over a request for comment.

BlackBerry received a positive response from critics and people used to prefer the android and iPhone smartphones. BlackBerry eventually stop making phones.

In a lawsuit, shareholders have accused the company that focuses on Cybersecurity, Waterloo. The accusation was made for concealing BlackBerry 10’s true sales prospects in a public statement in 2013. This resulted in inflation in share prices.

BlackBerry said in February this year, it will sell its patent related to mobile devices, wireless networking, and messaging for $600 million for some specific purpose to a vehicle-based company.

BlackBerry also said about the impact of BlackBerry sales will not affect the users of its product or services. The company’s legacy patent will be given to Catapult IP innovations.

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