TORONTO — Research in Motion Ltd. stock is unlikely to feel much impact from a pension fund’s efforts to have the company sue its own directors, observers say.

The Ironworkers Ontario Pension Fund, which is unhappy with the way RIM is conducting an investigation into the company’s historical option-granting policies, has asked the Ontario Superior Court for permission to take action against certain RIM directors.

They want the court to approve a shareholder derivative action — which would involve RIM suing its directors on behalf of shareholders.

The fund is also seeking $105-million in damages.

Ron Sanderson, an analyst with American Technology Research, said Friday that the filing itself wouldn’t affect the stock, while other analysts have pointed to the fact that the BlackBerry maker’s shares had been trading at normal levels since the motion was announced late Wednesday.

On the TSX Friday, RIM shares closed at $147.85, down $1.99 or 1.3 per cent, with 400,000 shares changing hands at the Toronto Stock Exchange. On Nasdaq, RIM stock closed at US$125.36, down $1.68...

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