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"As alleged in our complaint, RIM and its highest level executives engaged in widespread backdating of options which provided them and other employees with millions of dollars in undisclosed compensation," said Linda Chatman Thomsen, Director of the SEC's Division of Enforcement."This enforcement action underscores the SEC's resolve to assure full and accurate disclosure to U. investors by foreign issuers." Antonia Chion, Associate Director of the SEC's Division of Enforcement, added, "Companies and executives who attempt to conceal their fraudulent conduct from investors and regulators will be held accountable." The SEC's complaint alleges that RIM and its execs made false and misleading disclosures about how RIM priced and accounted for options.Leading Japanese operator NTT Do Co Mo will make the first ever Black Berry available in Japan on September 26 and the device, the Black Berry 8707h, will also be RIM’s first WCDMA 3G offering.Do Co Mo will make the device available to […] Making good on its promise, Research in Motion, the Canadian manufacturer behind the Black Berry launched its first consumer version of the iconic gadget on Thursday The new Black Berry – dubbed 8100 or ‘Pearl’ – is a response from the company to concerns that while it remains dominant in the corporate mobile email sphere, it lacks […] The ongoing rumour that Research in Motion (RIM) is working with Apple to create a mobile phone/i Pod hybrid – dubbed ‘Apple Berry’ by hopeful fans – was dealt a blow on Tuesday as RIM refused to answer any questions on the subject.Black Berry vendor Research In Motion (RIM) said Thursday that it has completed the restatement of its previously filed financial statements, following an internal review of its stock option granting practices.
The SEC's complaint alleges that Ontario, Canada-based RIM, its former CFO Dennis Kavelman, former VP of Finance Angelo Loberto, and Co-CEOs James Balsillie and Mike Lazaridis illegally granted undisclosed, in-the-money options to RIM executives and employees by backdating millions of stock options over an eight-year period from 1998 through 2006.The complaint also alleges that Kavelman and Loberto took steps to hide the backdating from regulators, RIM's independent auditor and outside lawyer.