Founder Mike Lazaridis Sheds $27 Million Worth of BlackBerry Shares as Prem Watsa Buys More

Posted by Knowlton Thomas

Last week, BlackBerry founder Mike Lazaridis—who is no longer with the company—sold more than $27 million worth of shares, reducing his stake in the Waterloo-based smartphone maker to less than 5%.

Now that Lazaridis owns less than 5% of BlackBerry he is no longer required by the Securities and Exchange Commission to disclose his stock trades. In fact, he's so uninvolved in BlackBerry these days he hasn't even met the company's new chairman and interim CEO, John Chen.

Meanwhile, Fairfax Financial head Prem Watsa continues to up his stake in BlackBerry: over Christmas he bought $1 million worth of shares, boosting his already high stake in the company to more than 51 million shares—double that of anyone else. Fairfax led a $1 billion investment in BlackBerry in November.

Waterloo, Ontario, Canada

Research In Motion (RIM), a global leader in wireless innovation, revolutionized the mobile industry with the introduction of the BlackBerry® solution in 1999. BlackBerry products and services are used by millions of customers around the world to stay connected to the people and content that matter most throughout their day. The BlackBerry product line includes the BlackBerry® PlayBook™ tablet, the award-winning... more

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Knowlton Thomas

Knowlton Thomas

Knowlton is the managing editor of Techvibes. Based in Vancouver, Knowlton has been published in national publications and has also appeared on television and radio. Previously he was an editor for New Westminster weekly The Other Press and served on its board of directors. When not working, Knowlton enjoys playing tennis or otherwise enjoying the outdoors. more

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