Research In Motion

Research In Motion

January 24, 2007 20:29 ET

RIM Discloses Filing of Notice of Application to Commence Shareholder Derivative Lawsuit

WATERLOO, ONTARIO--(CCNMatthews - Jan. 24, 2007) - Research In Motion Limited (RIM) (NASDAQ:RIMM)(TSX:RIM) today disclosed that it has been served with a Notice of Application that was filed with the Ontario Superior Court of Justice - Commercial List (the "Court") by a shareholder. The Notice of Application, among other things, seeks the permission of the Court to commence a shareholder derivative action purportedly on behalf of the Company against certain of RIM's directors relating to RIM's historical option granting practices, and also makes certain demands with respect to the conduct and scope of RIM's ongoing management-initiated, voluntary review of such practices. The Company's Board of Directors intends to review the allegations set forth in the Notice of Application and the related Statement of Claim and will respond in a manner that it considers to be in the best interests of RIM's shareholders.

Additional lawsuits, including purported class actions and additional derivative actions, may be filed based upon allegations substantially similar to those described in this application or otherwise relating to the Company's historical option grant practices. The Company does not intend to issue any press releases describing the filing in the event of any such additional lawsuits.

About Research In Motion (RIM)

Research In Motion is a leading designer, manufacturer and marketer of innovative wireless solutions for the worldwide mobile communications market. Through the development of integrated hardware, software and services that support multiple wireless network standards, RIM provides platforms and solutions for seamless access to time-sensitive information including email, phone, SMS messaging, Internet and intranet-based applications. RIM technology also enables a broad array of third party developers and manufacturers to enhance their products and services with wireless connectivity to data. RIM's portfolio of award-winning products, services and embedded technologies are used by thousands of organizations around the world and include the BlackBerry® wireless platform, the RIM Wireless Handheld™ product line, software development tools, radio-modems and software/hardware licensing agreements. Founded in 1984 and based in Waterloo, Ontario, RIM operates offices in North America, Europe and Asia Pacific. RIM is listed on the Nasdaq Stock Market (NASDAQ:RIMM) and the Toronto Stock Exchange (TSX:RIM). For more information, visit or

The BlackBerry and RIM families of related marks, images and symbols are the exclusive properties and trademarks of Research In Motion Limited. RIM, Research In Motion and BlackBerry are registered with the U.S. Patent and Trademark Office and may be pending or registered in other countries. All other brands, product names, company names, trademarks and service marks are the properties of their respective owners.

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