Dispositions by the insiders under their respective ASDPs will be reported in accordance with applicable Canadian securities laws (RIM’s insiders are exempt from filing insider reports under U.S. securities laws) and on Forms 144 filed with the Securities and Exchange Commission by any officers or directors who sell such securities on the Nasdaq Stock Market. Each such filing will bear a notation to advise readers that the dispositions relate to an ASDP.
Other insiders of the Company may from time to time adopt ASDPs during trading windows. RIM will issue a press release to announce the adoption of any other ASDPs by its directors or officers.
As previously announced, in May 2007, RIM completed a management-initiated review of its historical stock option granting practices, which resulted in a restatement of its previously filed U.S. GAAP financial statements. The section of RIM’s MD&A for fiscal 2007 titled “Explanatory Note Regarding the Restatement of Previously Issued Financial Statements” describes the background, scope and findings of the internal review of stock option practices that was completed by a Special Committee of RIM’s Board of Directors, summarizes the accounting impact of the restatement adjustments on the Company’s U.S. GAAP financial statements, and outlines the measures implemented by the Company in response to the recommendations of the Special Committee. The Company has also disclosed that the United States Attorney for the Southern District of New York, the Securities and Exchange Commission and the Ontario Securities Commission are conducting investigations in connection with the Company’s historical stock option granting practices. While it is not possible to predict at this time what action may result from the investigations, the Company anticipates that RIM or certain of its directors or officers may be subject to potential enforcement action, and could be subject to other potential risks and outcomes, which are described in greater detail under the heading “Restatement of Previously Issued Financial Statements” in RIM’s MD&A for the three months and six months ended September 1, 2007, and under the heading “Risk Factors – Risks Related to the Company’s Stock Option Granting Practices – Matters relating to the Company’s internal review of its stock option granting practices, the restatement of the Company’s previously filed financial statements as a result of the review, and regulatory investigations or litigation relating to those matters may have a material adverse effect on the Company” in RIM’s Annual Information Form for fiscal 2007 (filed as part of RIM’s Annual Report on Form 40-F). Copies of such filings may be obtained at www.sedar.com and www.sec.gov. Such actions or outcomes could have a material adverse effect on the Company.
The RIM and Research In Motion families of related marks, images and symbols are the exclusive properties and trademarks of Research In Motion Limited and are registered with the U.S. Patent and Trademark Office and may be pending or registered in other countries. All other brands, product names, company names, trademarks and service marks are the properties of their respective owners.
This news release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities laws relating to investigations by securities regulators and the United States Attorney in connection with RIM’s historical stock option granting practices. Forward-looking statements are based on estimates and assumptions made by RIM in light of its experience and its perception of historical trends, current conditions and future developments, as well as other factors that RIM believes are appropriate in the circumstances. Factors that could cause future events to differ materially from those expressed or implied by the forward-looking statements include the inherent uncertainty of government investigations and litigation, and legal and other developments relating to stock option matters. Readers are cautioned to consider the forward-looking statements in light of these risks and others relating to the investigations that are described in the sections of RIM’s securities filings referred to above. These factors should be considered carefully, and readers should not place undue reliance on RIM’s forward-looking statements. RIM has no intention and undertakes no obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.