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Ex-Performance Sports chairman sues accounting firm in Canada

Published 2016-01-11, 10:00 a/m
© Reuters. Ex-Performance Sports chairman sues accounting firm in Canada
PSGLQ
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By John Tilak
TORONTO, Jan 11 (Reuters) - The former chairman of
Performance Sports Group Ltd PSG.TO , Graeme Roustan, has sued
accounting firm Grant Thornton for breach of contract and
defamation in connection with a battle over the retailer's
strategy, according to a claim filed in a Canadian court on
Monday.
Following his unhappiness with the decision of Performance
Sports to open its own retail stores, Roustan hired Grant
Thornton last year to conduct a survey of some of the retailer's
major customers, according to the lawsuit filed in the Ontario
Superior Court of Justice.
After Grant Thornton conducted the survey, Performance
Sports wrote to Grant Thornton asking to "cease this survey
immediately," the lawsuit says.
The lawsuit says that Grant Thornton completed the survey
but later terminated the engagement, citing reputational harm.
Grant Thornton and Performance Sports did not immediately
respond to a request for comment. Roustan declined to comment
beyond the lawsuit.
Roustan, who owns a small stake in Performance Sports, has
said he is looking to take the company private if he does not
see a reversal in its retail strategy and its chief executive
replaced. He could also launch a proxy battle to get a seat on
the company's board.

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