$100 million? RIM reaches agreement with Ontario Securities Commission

Remember a few days ago when the Ontario Securities Commission went after RIM’s co-CEO’s, Jim Balsillie & Mike Lazaridis for a record $100 million penalty from for their 1996 stock option accounting controversy.

RIM has reached a settlement with the OSC and just needs final approval. A hearing has scheduled for February 5th – unfortunately no terms have been released to the public yet. I’m guestimating it will come in about half.