Ontario Securities Commission seeks $100 million fine against RIM's co-CEOs

Uh oh. Remember that RIM backdating controversy from 2007? The Ontario Securities Commission sure does, and according to ReportonBusiness, it's seeking a record $100 million Canadian (that's about $79 million US) fine against co-CEOs Jim Balsillie and Mike Lazaridis. If approved, that'll be the largest penalty ever to be paid by individuals to the OSC, with Balsillie expected to pay the bulk of the penalty. As usual, none of the parties involved are commenting on the case, but we reckon this won't be the last we hear about it.

[Via Mobile Syrup]

[Iceman Posted Jan 22nd 2009 4:48PM]

I guess this means no new hockey team in Hamilton

[profets Posted Jan 22nd 2009 4:56PM]

not that they were successful with that anyway. would have been cool to have an nhl team few minutes away though

[(Unverified) Posted Jan 22nd 2009 4:52PM]

Does anyone else enjoy the fact that the phone with the pic is connected to GPRS?

[(Unverified) Posted Jan 22nd 2009 4:55PM]

I think this is a real screenshot!

[(Unverified) Posted Jan 22nd 2009 7:42PM]

Well I guess Jim won't be getting his NHL team after all.

[Sam of the Sun Posted Jan 22nd 2009 5:41PM]

RIM-job people.

[(Unverified) Posted Jan 22nd 2009 6:31PM]

Was wondering when we were going to see an update on this story. Its amazing that people in this position, with this much cash arent more careful.

[(Unverified) Posted Jan 22nd 2009 6:32PM]

Wow, it's J.K. Simmons versus John Madden!

[(Unverified) Posted Jan 22nd 2009 6:41PM]

Ontario just took a beating with job losses. Why hit these guys so hard when they're actually contributing millions in salary and jobs to the province? Backwards.

[(Unverified) Posted Jan 22nd 2009 10:58PM]

I just spoke to Jim today - pitty he didn't mention this.

[(Unverified) Posted Jan 23rd 2009 8:42AM]

they can make this go away quick. those guys should just tell OSC, fine. you want to fine us. will move our HQ somewhere else. HOWYALIKEMENOW puppy!

[(Unverified) Posted Jan 23rd 2009 11:03AM]

Luckily everyone in Pittsburgh figured out this guy was a scumbag before he stole our team.

[(Unverified) Posted Jan 23rd 2009 4:48PM]

No mention of McCain?? Thought he invented the Blackberry?