It is unclear how many RIM shares Jaguar owns. The firm is relatively small, with reported net income of $2.1 million for the second quarter of 2011, and RIM, with a market value of about $15.8 billion, is by far its largest target to date.But Research in Motion’s share price has been battered this year, falling nearly 50 percent. The company, which has two chief executives who also serve as chairmen of the board, has already been confronted by one investor about its governance structure.Northwest and Ethical Investments dropped the proposal to split the chairman and chief executive roles from the summer investor meeting after RIM promised to form a committee to study its leadership structure.In the letter, Jaguar noted that RIM had lost significant market share in the last year, as the Apple iPhone and phones using Android, the operating system created by Google, have claimed new customers in the smartphone market. A number of product introductions, including a tablet, have not been the successes the company had hoped for.

via Activist Fund Calls for Breakup of BlackBerry Maker –