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

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. Since then, BlackBerry products and services have continued to change the way millions of people around the world stay connected. With the launch of BlackBerry 10, we have re-designed, re-engineered and re-invented BlackBerry. Not only... more

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Knowlton Thomas

Knowlton Thomas

Knowlton is the managing editor of Techvibes and author of Tempest Bound. 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 hiking, tennis, and martial arts. more

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