Questionable options practices continue to take their toll on companies. This time, a Canadian darling, without a doubt one of Canada's recent success stories, Research in Motion Ltd. (NASDAQ:RIMM) might be getting into trouble.

The BlackBerry maker (affectionately nicknamed CrackBerry) missed its financial reporting deadline of October 17. RIM was supposed to file the second-quarter earnings on that date in accordance with the Ontario Securities Commission. As a result, the OSC ordered all insiders, about 60 of them including co-CEOs Jim Balsillie and Mike Lazaridis, to stop trading in the company's stock. Even if the company files now, insiders would not be able to trade until two days after the filing. There will still be a hearing on November 7 regarding the ban.

While this is happening in Canada, in the U.S., the Securities and Exchange Commission has also asked RIM to supply the commission with stock-option grants and practices information. However, the SEC requests the information to be provided voluntarily. RIM said it would comply with the SEC's request.

Like most companies lately, RIM decided to look into its accounting practices recently and review financials going a few years back. RIM plans to restate earnings starting in 1998, but at the same time stated it doesn't believe the adjustments would be material and that earnings since 1997 would be reduced by up to $45 million.

In addition, RIM has to arrange some accounting "glitches" arising from different accounting rules in Canada and the U.S.

With Apple Computer, Inc. (NASDAQ:AAPL) just barely avoiding NASDAQ delisting, I wonder when we'll hear the last of that.