Research in motion stock option backdating

The individual defendants will pay penalties in the following amounts: 0,000 for Kavelman; 5,000 for Loberto; 0,000 for Balsillie; and 0,000 for Lazaridis.

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The complaint also alleges that Kavelman and Loberto took steps to hide the backdating from regulators, RIM's independent auditor and outside lawyer.

Balsillie and Mike Lazaridis, were involved in the settlement that was announced on Tuesday.

The Ontario Securities Commission must approve the agreement at a hearing on Thursday before the terms of the settlement can be disclosed.

For instance, Kavelman and Loberto usually picked low strike prices within reporting periods and in some instances avoided the lowest price so regulators would not detect the backdating.

On one occasion, Kavelman asked a manager not to document improper pricing in e-mails.

Research in motion stock option backdating