Share shenanigans cost RIM $1.4 million

BLACKBERRY MAKER RIM has been ordered to cough up $1.4 million after the Security and Exchange Commission (SEC) had a look through its books and found some dodgy dealings relating to stock issuws.

Head Honchos Jim Balsillie and Mike Lazaridi, along with two other senior managers, agreed to pay the fine rather than be dragged through the courts after it was alleged that they had illegally back-dated stock options giving the financial markets a skewed picture of the Canadian company's financial health.

The gang of four has, of course, neither admitted nor denied the allegations preferring to just stump up a huge pile of cash rather than risk facing justice and possible jail time in a court of law.

And it's not the first time the company's execs have been caught footling with the figures. Just last month a similar deal was made with the Canadian Stock Exchange and, in 2007, the company backdated more than 40 per cent of its stock leading to a $92 million settlement.

You'd think these people would learn, wouldn't you? [They'd rather earn, obviously. Ed.]µ