Court stops RIM’s hostile takeover bid of Certicom

RIM LogoA ruling by Justice Alexandra Hoy has resulted in RIM being officially halted from its $66 million hostile takeover bid of Mississauga-based encryption company Certicom.

The reason was from a couple non-disclosure agreements that were signed between the two companies in 2007 and 2008. Justice Alexandra Hoy said “The use of the confidential information provided pursuant to the two non-disclosure agreements at issue … to assess the desirability of a hostile takeover bid breached those agreements. RIM and RIMAC shall be enjoined from taking any steps to advance the hostile takeover bid launched by them on Dec. 10, 2008”