Former Executive Sues Omers for $53 Million After Being Fired
- Patterson alleges he was fired over changes to compensation
- Omers says wrongful dismissal claim is ‘without merit’
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A former managing director at one of Canada’s largest pension plans claims he is owed C$65 million ($53 million) after being fired.
Tim Patterson filed a lawsuit in Toronto on Friday, saying he and a colleague were dismissed from the Ontario Municipal Employees Retirement System in retaliation for not accepting changes to their compensation package. Eight other professionals in the private equity division resigned after receiving their bonuses, Patterson said in court documents. The allegations have not been tested in court.