SEC charges, settles with RIM executives over backdating issue

Well, it looks like RIM's top executives weren't about to get off the hook after just paying a little fine to the Ontario Securities Commission over that backdated stock options issue, as the US Securities and Exchange Commission is now getting on the act with some charges of its own. In a bit of a twist, however, the SEC has simultaneously announced that it has already reached a settlement with the four top RIM executives in question (co-CEOs Balsillie and Lazaridis, plus Chief Operating Officer Dennis Kavelman and former vice president of finance Angelo Loberto), who have agreed to pay $1.4 million in fines and give back the more than $800,000 they made in profits. No more shakeups on the board, it seems, although there's only so many times you can step down from your position before you start to look silly.