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Ex-BlackBerry boss dumps shares

Feb 14 2013 17:33
Toronto - Shares of BlackBerry slipped on Thursday, after the company's former Co-Chief Executive Officer Jim Balsillie disclosed that he had sold his once-sizable stake in the embattled smartphone maker.

In a regulatory filing on Thursday, Balsillie said that by the end of last year he had sold his entire stake in the company.

Balsillie, who stepped down as CEO a year ago, owned about 26.8 million shares, or a roughly 5% stake in the company, as of December 31, 2011.

Shares of BlackBerry were down 3.4% at $13.52 in early trading on the Nasdaq, while its Toronto-listed shares fell 3.5% to C$13.51.

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