Ontario Securities Commission seeks $100 million fine against RIM's co-CEOs

Source: http://www.engadget.com/2009/01/22/ontario-securities-commission-seeks-100-million-fine-against-ri/

Uh oh. Remember that RIM backdating controversy from 2007? The Ontario Securities Commission sure does, and according to ReportonBusiness, it's seeking a record $100 million Canadian (that's about $79 million US) fine against co-CEOs Jim Balsillie and Mike Lazaridis. If approved, that'll be the largest penalty ever to be paid by individuals to the OSC, with Balsillie expected to pay the bulk of the penalty. As usual, none of the parties involved are commenting on the case, but we reckon this won't be the last we hear about it.

[Via Mobile Syrup]

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Ontario Securities Commission seeks $100 million fine against RIM's co-CEOs originally appeared on Engadget on Thu, 22 Jan 2009 16:42:00 EST. Please see our terms for use of feeds.

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