In January 2007, Siskinds and the law firm of Cavalluzzo Hayes Shilton McIntyre & Cornish LLP filed an application in the Ontario Superior Court of Justice on behalf of Ironworkers Ontario Pension Fund ("Ironworkers"), a shareholder of Research in Motion Limited ("RIM"). The application sought two forms of relief: (1) an oppression remedy relating to the internal stock options review by members of the Board of RIM; and (2) leave of the Court to commence an action in the name and on behalf of RIM against certain of RIM's officers and directors. The proposed action would seek various forms of relief, for RIM's benefit, in connection with RIM's historical stock option practices. A copy of the Fresh as Amended Notice of Application can be viewed by clicking on the link below:
On October 5, 2007, RIM and Ironworkers announced that they had entered into a Settlement Agreement resolving the claims raised in the Application. The Application remains subject to Court approval. A copy of the Settlement Agreement can be viewed by clicking the link below.
For information regarding the settlement approval hearing and the right of past and current shareholders of RIM to opt out of the settlement, please review the Long-Form Notice of Settlement Approval Hearing. That Notice can be viewed by clicking on the links below.
For further information concerning this action, please contact ironworkers.information@siskinds.com or call Nicole Young at 1 (800) 461-6166 (ext. 2380). Updates concerning this action will be posted above.
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