RIM shareholder says “the status quo is not acceptable”, urges Directors to look at “potential sale of the Company”

Research In Motion is currently going through a self proclaimed transition period and on September 16th execs will announce their Q2 fiscal 2011 results. This is when we’ll truly see the impact from the recent job cuts and sales numbers of the newly released BlackBerry 7 devices, namely the Bold 9900, Torch 9810 and 9860. After their disappointing Q1 results the RIM stock fell sharpy in value (to the tune of 50%) and some shareholders bailed by selling their stock.

Today, the stock is sitting at $30.12 and another RIM shareholder has become incredibly vocal. Jaguar Financial Corporation “on behalf of itself and other supportive shareholders” sent out a press release that requests RIM directors to bring the company back to life and look “all options” that include “a potential sale of the Company or a monetization of the RIM patent portfolio by a spin-out to RIM shareholders”.

It’s not known how many shares Jaguar owns of RIM but they state in their company description that they are a “Canadian merchant bank which invests in underperforming, undervalued or unappreciated companies and acts as a catalyst to create value”. Perhaps this is way to further drag down the stock so they’ll make more money. The release also stated that RIM has fallen in market share to Apple’s iPhone and Google’s Android phones, plus have lost key employees and lack innovation. In addition, Jaguar took aim at both co-CEO’s and stated that “Mr. James Balsillie and Mr. Mike Lazaridis as Co-Chief Executive Officers and Co-Chairmen of the Company, is ineffective and requires meaningful change”. So Jaguar is basically saying the company as a whole needs a change.

However, Vic Alboini, Chairman and CEO of Jaguar, said “The status quo is not acceptable, the Company cannot sit still. It is time for transformational change. The Directors need to seize the reins to maximize shareholder value before more market value is lost.”

Source: Newswire