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despite the Black Berry maker announcing a change to its board of directors and taking a 0-million (U. Options are supposed to be granted with an exercise price equal to the company's share price, so they only become valuable in the future if the share price rises. Lascaris added his client will proceed with its lawsuit despite yesterday's announcement.

regulators will continue to investigate Research in Motion Ltd. The review found instances in which "hindsight was used" to select favourable dates to grant stock options, resulting in employees getting options that were already valuable when they were granted.

We put our money on the table and we stand behind it," Mr. The company said its executives will also repay all the benefit they received from options that were incorrectly priced. Balsillie said his own obligation will be "far, far less" than the -million he has volunteered to pay to cover the investigation costs.

Ontario Securities Commission spokeswoman Wendy Dey said the commission's review is continuing, but would not comment on whether RIM negotiated its proposed governance changes with the OSC prior to yesterday's announcement.

She stressed RIM's news release yesterday was "a report of RIM's own investigation -- it is RIM's own report." Mr.

Balsillie said the mistake stemmed from his belief that options could be dated on the day they were promised to an executive, and said he was surprised to discover they should have been dated when they were actually approved by the board and granted.

"We thought the day of the decision was when you priced it.

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