With Research in Motion stock down over 50 percent in the past year activist investors are pressing for strategic change, such as a sale or break-up of the company.
Vic Alboini chairman and CEO of Jaguar Financial, a Canadian bank that targets underperforming business, is one such activist.
He tells Fast Money that he has 12 major shareholders on his side and that he scheduled a meeting with 2 independent directors in good faith.
But shortly before the meeting, RIM canceled it and issued the following statement.
Upon consultation with outside counsel, and consideration of Jaguar's past activities with respect to other companies, Mr. Richardson does not believe that Jaguar's interests are aligned with RIM's long-term shareholders, and therefore instructed the company to contact Mr. Alboini and decline a meeting at this time.
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