Rim backdating stock
and RIM executives Dennis Kavelman and Angelo Loberto to pay million in penalties and fines in Canada, where RIM is headquartered.The four men settled the SEC's charges without admitting or denying the allegations.How are organizations striking the balance between new initiatives and cost control?Download our report to learn about the biggest challenges and how savvy IT executives are overcoming them.We conclude that while executive compensation schemes (e.g., stock options) were originally intended to help remedy the agency problem by tying together the interests of the executives and shareholders, these schemes may have actually become “part of the problem,” and that the solution ultimately depends upon whether directors and executives accept that all of their actions must be based on a set of core ethical values.The Securities and Exchange Commission has levied fines against Research In Motion executives for their actions in a stock-option backdating scheme, two weeks after Canadian regulators took similar action.Four Research In Motion (RIMM) executives have settled Securities and Exchange Commission charges over stock-option backdating.
I was looking for a pretty basic plan, nothing too fancy. It’s only been a couple days but I am pretty pleased so far and would recommend my local Verizon store over the local AT&T store.
Third, we assess the practice of backdating stock options, as an illustration of the agency problem, in terms of whether the practice is legally acceptable or ethically justifiable.
Fourth, we proceed to an analysis of good corporate governance practice involving backdating options based on a series of ethical standards including: (1) trustworthiness; (2) utilitarianism; (3) justice; and (4) Kantianism.
Anyhow, the chairman is stepping down (but still the CEO) and RIM changed their report on the financial hit to what analysts were originally expecting (up from where it was before).
What does it mean for us WM folks - looks like "not much." And now here we are: a 0 million restatement, with Jim Balsillie relinquishing his role as chairman (he stays on as CEO) now that he's been directly implicated in personally choosing favorable dates for back-dated options.
What ethical measures need to be taken to address the agency problem?