Investing.com - Financial Markets Worldwide
💙 🔷 Not impressed by Big Tech in Q3? Explore these Blue Chip Bargains insteadExplore for free

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
-

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.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.