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Lie Stock Option Work Cited in Court Case

An Ontario pension fund seeking to sue Research In Motion Ltd.'s (RIM) audit committee on behalf of the company in a so-called derivative action added RIM's co-chief executives and its former chief financial officer to the proposed action. The Ironworkers Ontario Pension Fund also named RIM director, Douglas Fregin, in the amended action filed in the Ontario Superior Court of Justice March 14. In addition, the Ironworkers submitted a supplemental affidavit from ERIK LIE in support of its case. Lie is an associate finance professor at the University of Iowa and one of the first academics to identify the stock-option-backdating trend.

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