Ex-CEO Balsillie Divests The last 5.1% Of BlackBerry In His Ownership

Boston, MA 02/14/2013 (wallstreetpr) – In a regulatory filing , Jim Balsillie the former Co Chief Executive Officer of Research In Motion Ltd. (NASDAQ:BBRY) reported he has divested the last of his shareholding in the phone maker.

Balsillie who also co-founded the Canadian technology company has a net worth of $800 million, making him the 20th wealthiest man in Canad. In the world’s most wealthy ranking by Forbes he holds 692nd rank.

He resigned the company in January 2012 after it reported recurrent losses, along with Mike Lazaridis, also co-CEO of the tech Goliath at that time. Both of them owned 5% of the company’s shares at the time they vacated the office. He helped run the company for over 20 years through thick and thin.

In his regulatory filing before the Securities & Exchange commission Balsillie revealed he sold the whole of the last chunk of ownership of In Motion Ltd (NASDAQ:BBRY) held by him until last year.

“Balsillie has no holdings in the company as of Dec. 31st”, according to the filing dated today.

The shares of Research In Motion Ltd (NASDAQ:BBRY) were up by 5.36% and currently trading at $14.73.

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Published by Alan Masterson

Alan has over 25 years of trading experience in the U.S. equity markets. He began his career in finance working on a program trading desk specializing in over-the-counter stocks. His career progressed from that point to his current position as senior trader on an institutional trading desk. In the evenings, Alan teaches economics at a local community college. He has contributed articles to various publications over the last six years, including feature articles for an economics magazine and various financial blogs. You may contact Alan via his email (alanmasterson@wallstreetpr.com) or his Google+ page (https://plus.google.com/103338576216002376250).

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