RIM Execs Close To $80M Backdating Deal: Report

Law360, New York (January 22, 2009, 12:00 AM EST) -- The Ontario Securities Commission is reportedly in negotiations with top-level executives at Research In Motion Ltd. that could see them pay up to CAN $100 million (US $80 million) to settle options backdating allegations stretching back to 1996.

RIM co-CEO Jim Balsillie could lose his seat on the company's board of directors as part of the settlement, the Toronto Globe and Mail reported Thursday. A $100 million settlement would be the largest in the OSC's history, the newspaper reported.

Citing “people familiar with settlement discussions,” the...
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