Saturday, February 11, 2006

RIM's Legal Firm Switched Sides

The National Post looks at surprising twist in the RIM-NTP lawsuit. In March 2005 GMP Securities LP, a Toronto-based investment firm which was one of RIM’s leading underwriters and whose lawyers handled the private business affairs of RIM’s executives stunned RIM by advising NTP Inc. in its lawsuit against RIM.

RIM’s main concern about this decision was that GMP Securities had access to RIM’s more detail information and secrets. GMP Securities said they only used publicly available information when advising NTP but with its executives very angry, RIM is blacklisting GMP Securities. The article states:

So now, RIM has refused to provide references when other companies have enquired about doing business with GMP. In the words of one official, "If we're not on their reference list and you're a CEO, wouldn't you ask why?"

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