Another trading ban for RIM insiders, audit nearly over


Some good news and some bad news for RIM folk today – well, yesterday, but I guess today, too. Yesterday morning, the Ontario Securities Commission gave RIM yet another extension on the final filing of their Q2 results, so there’s some good news. Bad news – RIM’s still in the red following their filing on Monday and another insider trading ban has been set in place (don’t worry, non-insiders – you’re still good).

But there’s more good news, and you’ll find it after the break.

The audit is finally nearing completion. I’m just waiting on that sigh of relief. There’s a rough date of April 11 set in place for final filing, and I really hope that they get their files in on time. Heck, when I was in college, anything more than three days and you got a “0” – this is no different, right?

“While the company will publish preliminary Q4 results, the focus is on getting all of its filings current,” said Robert Staley, a lawyer for the company.

“The audit work is very close to being completed.”

Staley added that there are still “elements outside the company’s control” for exactly when those reports will be completed because auditors still have to look over the details. For that reason, he was reluctant to specify a target date, saying only that it would be “very shortly.”