Research in Motion announced it has reached a settlement with the Ontario market regulator who had pursued fines of RIM's executives over backdating of stock options.
"RIM and certain of its officers and directors have reached a settlement agreement with the staff of the Ontario Securities Commission (OSC) relating to the previously disclosed investigation of RIM's historical stock option granting practices," RIM said in a statement.
Although not specifically named, the officers the statement referred to are likely co-CEOs Jim Balsillie and Mike Lazaridis, who were facing a record-breaking $100 million fine.
"RIM and certain of its officers and directors have reached a settlement agreement with the staff of the Ontario Securities Commission (OSC) relating to the previously disclosed investigation of RIM's historical stock option granting practices," RIM said in a statement.
Although not specifically named, the officers the statement referred to are likely co-CEOs Jim Balsillie and Mike Lazaridis, who were facing a record-breaking $100 million fine.
