The maker of BlackBerry smartphones says it wants U.S. and Canadian regulators to investigate a "false and misleading'' report by a financial analyst claiming customers are returning the company's new Z10 phone at an unusually high rate.
Canadian company Research In Motion Ltd., or RIM, said Friday the return rates for its Z10 devices have been at or below its own forecasts and "right in line" with industry norms.
Company CEO Thorsten Heins says a report from research and investment firm Detwiler Fenton has to be challenged because it is "either a gross misreading of the data or a willful manipulation."
Anne Buckley, general counsel and chief compliance officer with Detwiler Fenton, told The Associated Press Friday that the firm is confident in its research methodology and welcomes any regulatory inquiry.
RIM's stock fell nearly 8 percent on Thursday.
Blackberry says Detwiler Fenton has refused to make its methodology for the report available to them.