RIM issues restatement


The restatements announced last week as a result of RIM’s stock-option inquiry are finally out. While the company might have its next legal battle lined up, they’re just about done what’s on they’re plate as is. Final results? $248.2 million less profit than RIM had initially reported, which works out to about two cents a share. Yup. All of that for two cents a share. With all this over, things should be back to business as usual in no time.

RIM said that with the process complete it expects the Ontario Securities Commission’s Management Cease Trade Order to be lifted on May 23, allowing insiders to trade the company’s shares again.

Stock actually actually went up 56 cents overnight to $152.42 after an initial 88 cent drop.