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RIM execs fined $77M in settlement

Executives and directors at Research in Motion, including co-CEOs JimBalsillie and Mike Laz­aridis, were fined about $77 million under anegotiated settlement with the Ontario Securities Commission over stockoption back-dating.

Executives and directors at Research in Motion, including co-CEOs Jim Balsillie and Mike Laz­aridis, were fined about $77 million under a negotiated settlement with the Ontario Securities Commission over stock option back-dating.

Lazaridis, who founded the company and is the technical whiz behind the BlackBerry products, will pay a $1.5-million penalty.

Balsillie, who has step­ped down as chairman of the Waterloo, Ont., company, will pay $5 million in a so-called administrative penalty.

 
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