RIM Buying Back $1.2B Worth Of Shares

Law360, New York (November 11, 2009, 4:32 PM EST) -- Facing a drop in share value, stiff competition in the smartphone market and open speculation that it might become a takeover target, BlackBerry maker Research In Motion Ltd. has announced it will buy back more than $1 billion worth of its shares.

The Waterloo, Ontario-based company announced the repurchase program on Nov. 5 and said it would buy back approximately 21 million shares at a value of up to $1.2 billion.

The buyback is governed by the rules of the U.S. Securities and Exchange Commission, the...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.