Vic Alboini takes an earful from CrackBerry Kevin following RIM's AGM
Just the other day I sent out a tweet saying "Just realized we haven't heard a peep out of the "cat" since @cumiastowski and I wrote that article months back... we actually silenced him?!"
Those who follow the CrackBerry beat know the cat I was referring to was the self-proclaimed "RIM activist shareholder" Vic Alboini of Jaguar Financial and Northern Securities. And it's true. Since we published our in-depth feature article detailing our distaste for Alboini's media tactics -- which we believe cause more harm than good for Research In Motion shareholders -- we really haven't seen Alboini's name or heard a peep out of him in the news.
That is of course, until tonight, when the Investment Industry Regulatory Organization of Canada declawed the cat, ruling against Alboini for "conduct unbecoming or detrimental to the public interest" over the period of 2006 to 2010. The IIROC has suspended Alboini for two years and permanently banned him as an "ultimate designated person" at an investment dealer. He's been fined $625,000 and ordered to pay costs of $125,000.
Since Alboini is the kind of guy who loves to see his name in headlines, we'll let you click through on a couple below for more details. Meow.