RIM’s trading ban lifted
Good news for RIM insiders - you can now trade your life away again. According to the Toronto Star, The Ontario Securities Commission has “briefly lifted a trading ban imposed on Research In Motion Ltd. executives to allow its co-chief executive officers to exercise hundreds of thousands of stock options, despite an active investigation into how the BlackBerry maker grants options to employees.” Well there’s some good news. The article stresses that the ban wasn’t meant to punish the executives, but rather maintain a strong “status quo”.
“Since the option review began, RIM has said that the securities commission is investigating accounting issues related to the company’s stock-option grants. RIM has also disclosed it has received an informal inquiry from the United States Securities and Exchange Commission related to the company’s internal review.”
Now the kids at RIM can stop sweating the small stuff like stock options and start focusing on, well, you know - 8800’s and such.