Things haven’t been good, just recently, for former American phone giant, Motorola. With money pouring out of every orifice, they needed a new phone that really caught the imagination of the public. They needed some good news to bring hope to the situation.
However, what they’ve got instead, according to IntoMobile, is an ex-employee filing a legal complaint, saying that Motorola lied about their financial performance. The claim (by former Motorola CFO Paul Liska) goes on to say that he was fired for bringing the financial high jinx to light.
That’s really not going to do Motorola’s credibility any good…
According to the legal filing, Mobile Devices Business executives at Motorola “were, intentionally or recklessly, materially misstating its 2009 forecasts and strategic plan,” and financial forecasts submitted to Motorola’s Board of Directors were “based on inaccurate or unsupportable financial assumptions.”
Liska also claims that when he brought the financial discrepancies to light, Motorola executives fired him, in an effort to sweep the affair under the rug, which is against their policy of “full disclosure, truthfulness and accuracy in financial reports.” Liska also claims that he has yet to receive his promised severance package.
For their part, Motorola have hit back, saying that Liska is a treacherous officer, who has planned this whole scheme as a way to make money from Motorola. Rumours also abound online that they are pinning a sizeable part of Motorola’s woes on Liska.
To my mind, that would have more to do with, when the market is getting all excited about the Sony Ericsson Idou and its ilk, Motorola being intent on still clinging to the RAZR…
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