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RIM also affected by an affair with stock options

By crispin. Original by Lionel - 26/01/2009 10:29:44 CET - Category: Internet
Everyone remembers the business of the back-dated stock options which shook Apple, and that cost some employees their positions and caused many worry with Steve Jobs who ended up coming out innocent of any charge.
RIM has just announced that they too have been involved in the same kind of business between 1996 and 2007. Before this came out, the employees concerned had to refund the millions of illegally acquired dollars while the company will have to pay a fine of 100 million Canadian dollars.
In exchange, the legal proceedings engaged by the Canadian stock exchange commission will be dropped.
It seems easier to come to end of these procedures in Canada than in the United States where the shareholders did everything they could to nail to the post the faulty leaders and to bring them to justice.
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