Rim backdating stock kathryn janus deeper dating

In addition, according to the complaint, the backdating violated the terms of RIM's stock option plan and a listing requirement of the Toronto Stock Exchange.RIM's stock is listed on both the NASDAQ Stock Market and the Toronto Stock Exchange.A derivative action is a lawsuit brought by a shareholder on behalf of the company to enforce a cause of action against a third party.The Ironworkers' amended action comes about 10 days after RIM acknowledged using "hindsight" to select favourable stock-option grant dates.The claim also seeks million in damages for injury to RIM's "credit, character and reputation," plus million in punitive damages.The proposed claim names RIM co-CEOs Jim Balsillie and Mike Lazaridis; former CFO Dennis Kavelman; directors Douglas Fregin, Kendall Cork, Douglas Wright, James Estill and John Richardson.

RIM also said it overstated previous earnings by 0 million (U. Stock options allow recipients to buy stock at a set price, generally the market price on the day the options were granted.

The settlement with RIM takes into account RIM's cooperation during the SEC's investigation.

Kavelman and Loberto consented to an order permanently enjoining them from violating the antifraud, internal controls, books and records and misrepresentation to auditors provisions and from aiding and abetting RIM's violations of the reporting, books and records and internal controls provisions of the federal securities laws.

Kavelman also consented to an order permanently enjoining him from violating the certification provision of the federal securities laws.

Kavelman and Loberto agreed to be barred for a period of five years from serving as officers or directors of any issuer that has a class of securities registered with the SEC or that is required to file reports with the SEC.

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It also avoided the use of the word backdating and sought damages of $105 million (Canadian).

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