Nokia 2008 Annual Report Download - page 127

overly optimistic statements about the success of a reorganization, provided overly optimistic
business projections, issued incomplete and misleading financial statements and were in possession
of material adverse information that was not disclosed to the investing public. The cases were
consolidated and dismissed. The plaintiffs appealed the dismissal. On May 22, 2008 the Washington
State Court of Appeals affirmed the dismissal. No additional appeal was taken and the cases were
concluded.
On October 6, 2006, we were named as a defendant in a Washington state court securities case
involving activities associated with the acquisition of Loudeye. The suit claims that Loudeye directors
breached their fiduciary duties to shareholders by not obtaining maximum value for the company.
Nokia is alleged to have aided and abetted the directors by limiting their ability to seek a higher
sales price after the Nokia merger agreement was executed. The case was dismissed by plaintiffs with
prejudice on May 22, 2008, thereby preventing the plaintiffs from raising such claims again.
Based upon the information currently available, management does not expect the resolution of any of
the matters discussed in this section 8A7. “Litigation” to have a material adverse effect on our
financial condition or results of operations.
We are also party to routine litigation incidental to the normal conduct of our business. Based upon
the information currently available, our management does not believe that liabilities related to these
proceedings, in the aggregate, are likely to be material to our financial condition or results of
operations.
8A8. See Item 3A. “Selected Financial Data—Distribution of Earnings” for a discussion of our dividend
policy.
8B. Significant Changes
No significant changes have occurred since the date of our consolidated financial statements included
in this annual report. See Item 5A. “Operating Results—Principal Factors Affecting our Results of
Operations” for information on material trends affecting our business and results of operations.
ITEM 9. THE OFFER AND LISTING
9A. Offer and Listing Details
Our capital consists of shares traded on NASDAQ OMX Helsinki under the symbol “NOK1V.” American
Depositary Shares, or ADSs, each representing one of our shares, are traded on the New York Stock
Exchange under the symbol “NOK.” The ADSs are evidenced by American Depositary Receipts, or ADRs,
issued by Citibank, N.A., as Depositary under the Amended and Restated Deposit Agreement dated as
of March 28, 2000 (as amended), among Nokia, Citibank, N.A. and registered holders from time to
time of ADRs.
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