TORONTO (Dow Jones)--Com Dev International Ltd. (CDV.T) received a letter several weeks ago from an institutional investor expressing concerns about its stock-option granting practices, Dmitri Lascaris, lawyer at Siskinds LLP, told Dow Jones. you can get more from Dow Jones news wire.
confirmed the news came out yesterday and unless you have news wire you would not have recieved the news. In addition charges are said to being considered to be filed as more back dating by rim could have been done without knowledge of stockholders. We'll have to wait and see when and if this news breaks.
I read that on Scottrade account, but I was thinking that there is an internal problem with illegal insider selling or something like that. Bottom line, there is a problem and it has not been made public yet OR it could be a rumor. Either way it is hampering the stock and traders have to gamble on which way this stock will go.
Here are some more news....I can't post more thatn 4000 words..TORONTO (Dow Jones)--Com Dev International Ltd. (CDV.T) received a letter several weeks ago from an institutional investor expressing concerns about its stock-option granting practices, Dmitri Lascaris, lawyer at Siskinds LLP, told Dow Jones. Lascaris declined to identify the institutional investor or elaborate on the contents of the letter. Earlier Thursday, Com Dev, which makes advanced products and subsystems for communications and military satellites, said it has established a special committee of its board to begin a review of the company's historical stock-option-granting practices. The company said it has met with staff of the Ontario Securities Commission to advise them of the review, but said it isn't aware of an investigation by the OSC. It wasn't immediately clear if the Com Dev review was initiated in response to the institutional investor's letter. Officials from Com Dev weren't immediately available for comment. Lascaris represented the Ironworkers Ontario Pension Fund earlier this year when the fund launched a legal challenge against Research In Motion Ltd. (RIMM), alleging that some of RIM's stock-option grants were manipulated. RIM later acknowledged that it had unintentionally backdated some of its stock-option grants. The BlackBerry maker settled its dispute with the Ironworkers in October. Stock options allow recipients to buy stock at a set exercise price, generally the market price on the day the options were granted. Backdating involves pretending that stock options were granted on an earlier date than they really were, conveying an opportunity for extra profit.