Posts Tagged ‘RIM’

Former RIM Executive Accused of Insider Trading

The Ontario Securities Commission has accused Paul Donald, a former Vice-President at Research in Motion (RIM) of insider trading. The Securities Commission alleged that Donald made a profit of $ 295,000 after buying shares of Certicom, the target of a hostile takeover by RIM.

The Ontario Securities Commission claims that Paul Donald attended a RIM golf outing, and sat at a table with Chris Wormwalt, VP of RIM’s Strategic Alliances Group. It’s alleged that Donald learned of the takeover bid and Certicom’s undervalued share price.