Defendant Name:
Research in Motion Limited
Defendant Type:
Public Company
SIC Code:
3663
CUSIP:
09228F10
Document Reference:
comp20902
Document Details
Legal Case Name
SEC v. Research in Motion Limited, Dennis Kavelman, Arcangelo Loberto, James Balsillie and Mihal Lazaridis
Document Name
Complaint
Document Date
17-Feb-2009
Document Format
Civil Proceeding
Case Number
09-cv-00301
Federal District Court
District of Columbia, District of Columbia
Federal District Judge
Reggie B. Walton
Allegation Type
Issuer Reporting and Disclosure
Document Summary
The SEC stated: "From 1998 through 2006, Research In Motion Limited ("RIM" or the
"Company"), the maker of BlackBerry wireless devices, and four of its senior executives
illegally granted undisclosed, in-the-money options to RIM executives and employees, by
backdating approximately 1,400 stock option grants to coincide with historically low closing prices for the Company's stock. The executives failed to disclose that RIM was not recording material compensation expenses and was materially overstating its net income or understating its net losses. The illicit backdating provided the executives and other employees with millions of dollars in undisclosed compensation."
Other Defendants in Action:
