RIM, Canadian Agency Reach $75M Backdating Deal

Law360, New York (February 5, 2009, 12:00 AM EST) -- The Ontario Securities Commission on Thursday approved a $75 million settlement with Research In Motion Ltd. and several of its officers, bringing to a close allegations of stock options backdating stretching back to 1996.

Under the deal, RIM co-CEO Jim Balsillie has agreed to not serve as a director of any Canadian company that makes public earnings reports for the latter of either 12 months or until the completion of an OSC review of RIM's corporate governance program, the company said in a statement.

RIM will...
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