A scandal haunts RIM still

Execs at BlackBerry maker could face fines as high as $100 million


 

The top executives at Research In Motion could be facing securities fines as high as $100 million for their role in a back-dating options scandal dating back over a decade. The fine would be part of a settlement between the Ontario Securities Commission and RIM co-CEOs Jim Balsillie and Mike Lazaridis. An internal investigation at the BlackBerry maker in early 2007 concluded that the executives, in numerous instances, had cherry-picked dates at which to peg stock options, ultimately manipulating their value. Since 2006, the issue has been under investigation by the OSC. This would be the largest penalty ever paid by individuals to the securities watchdog.

ReportonBusiness.com

Macleans.ca (All is forgiven)

Macleans.ca (Scandal or bore?)


 
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