Securities Commission Seeks Another $100-million from RIM Execs for Stock Option Scandal

Man, is this thing still going on? About two years ago Research in Motion executives were investigated for fishy back-dated stock options, which lead to the BlackBerry-maker getting nailed for $250 million after restating their earnings and ultimately lead now-co-CEO Jim Balsillie to step down as chairman. The Ontario Securities Commission still isn’t happy with that, and is looking for Mr. Balsillie to leave the board of directors for awhile, and fine another $100 million to the execs, setting a new record for the commission’s highest fine paid by individuals. RIM’s two co-CEOs have paid a lot because of the poor bookkeeping, and at this point it seems like beating a dead horse and/or a money grab from Canada’s most successful businessmen. C’mon, OSC, Mikey and Jim-dog have paid their dues, cut ‘em some slack.

[via Globe and Mail]

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