Rim backdating scandal
"We are responsible, Mike and I are the CEOs and we don't duck it.We put our money on the table and we stand behind it," Mr. The company said its executives will also repay all the benefit they received from options that were incorrectly priced. Balsillie said his own obligation will be "far, far less" than the -million he has volunteered to pay to cover the investigation costs.
The practice theoretically rips off the company's existing shareholders because it's offering an undisclosed, artificially created price to an exclusive group of shareholders, often executives at the company.Users who have redeemed the offer by navigating to the "Stores" tab of the app and swiping past the "i Phone Upgrade Program" banner to the "Procreate" banner have noted that only the limited Pocket (i Phone) version of the app is available free, even if the Apple Store app is installed and the offer redeemed on an i Pad.The Pocket version currently sells for on the i OS App Store. No." RIM's special committee of the board, which conducted a seven-month internal probe of stock option practices, said yesterday no one at the company will lose his or her job over the options problems.Balsillie's authority, and were not approved by the board as the company had previously reported.