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Electronics Production | March 28, 2008

Former Tourmaline owners sue Nokia

Former shareholders of Tourmaline have filed a lawsuit against Nokia for a breach of contract and fraud.
Intellisync bought Tourmaline for $4.1 million in March 2005. Nokia announced the $430 million acquisition of Intellisync in November the same year.

Reuters reports that the law firm Makarem & Associates said in a statement: "The lawsuit alleges that Intellisync and Nokia failed to make reasonable and good faith efforts to promote and develop Tourmaline products."

Nokia "actively impeded efforts to meet the minimum earn-out provisions provided by the merger agreement," it added. Nokia has filed a cross-complaint against three principal shareholders for fraud. Tourmaline's representatives maintain the cross-complaint is meritless and exists for the sole purpose of intimidating the shareholders into settling the matter.

The case is set for trial on May 9, 2008 in North San Diego County Superior Court. Nokia was not immediately available for comment.

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