The Ontario Superior Court of Justice has approved the settlement between the Trustees of Ironworkers Ontario Pension Fund and Research In Motion.
It declared that the settlement is fair and reasonable and in the interests of RIM’s shareholders.
The Canadian Press reports that under the agreement, Research In Motion’s co-CEOs Jim Balsillie and Mike Lazaridis will each pay US$2.5 million on top of the $5 million they’ve each agreed to repay the company to defray its costs for conducting the investigation.
The pension fund was seeking $105 million in damages over the way the company handled an investigation into its option-granting policies prior to 2002.
To read Pension Fund Settles Suit with RIM, click here.
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