Research In Motion Continues Internal Review of Stock-Option Grants

7:30 am on October 30, 2006 | Category: Business, Corporate, Regulation

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Waterloo, Ontario-based Research In Motion revealed late last week that it is complying with an informal inquiry by the U.S. Security and Exchange Commission, into its internal review of stock-option grants given to executives.

RIM also noted that it had been in contact with the Ontario Securities Commission about its voluntary review of financial numbers, which delayed its second fiscal quarter financial report earlier this month.

The BlackBerry went on to say that these investigations are just a precaution, and shouldn’t make for a material adjustment to the preliminary second-quarter operating results released in late September. Nevertheless, RIM has promised to deliver bi-weekly updates on its affairs until all fiscal reports have been properly filed with Canadian securities authorities.

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