BlackBerry refutes high Z10 return rates; seeks SEC review

“Return rate statistics show that we are at or below our forecasts and right in line with the industry.”

On Friday, BlackBerry CEO and President, Thorsten Heins, refuted  reports from an analyst firm on Thursday that suggested BlackBerry Z10 return rates were very high. Analyst firm Detwiler Fenton & Co. told Bloomberg that in some extreme cases, returns were higher than sales for a given time period.

In a press statement, BlackBerry specifically called out Detwiler Fenton, saying the company “refused to make either its report to investors or its methodology available to BlackBerry, even after the Company said the firm’s findings were ‘absolutely false.’ ”

BlackBerry will be looking for the Securities Exchange Commission and Ontario Securities Commission to review the situation and plans to submit a formal request to those agencies within a few days.

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