RIM investor urges company to consider sale

Reuters News
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Posted: Sep 06, 2011 10:33 AM
RIM investor urges company to consider sale

TORONTO (Reuters) - A shareholder in Research In Motion said on Tuesday it wants the BlackBerry maker to consider selling itself or spinning off its patent portfolio.

"The status quo is not acceptable, the company cannot sit still," Jaguar Financial Corp Chief Executive Vic Alboini said in a statement.

RIM's stock has skidded since February, hurt by a drumbeat of negative news. The company's earnings have missed expectations and it has cut financial forecasts, while its PlayBook, its answer to Apple's iPad, was launched to dismal reviews.

The Waterloo, Ontario-based company narrowly escaped a vote on whether its co-CEOs should also remain co-chairmen after the issue was raised by an activist shareholder in June.

(Reporting by Alastair Sharp; editing by Peter Galloway)