RIM Execs Settle with Regulators over Stock Options
By Simon Sage on Wednesday, February 4th, 2009 at 9:55 AM PST In Financial/Corporate News, RIM (Research in Motion)
Last week, Ontario regulators started pushing on BlackBerry manufacturer Research in Motion for more fines resulting from a stock option issue a few years ago. Previous reports pinned the number at $100 million from RIM’s top executives, but the final settlement reached today remains undisclosed. During the first go-round, the back-dated stock options cost the two CEOs $250 million in penalties. Co-CEO Jim Balsillie stepped down as RIM’s chairman, and yet here we are, three years later, and he’s still paying for it. Man, you can’t underestimate good bookeeping…
[via Reuters]
