Omers Says Executive Lawsuit Over Pay ‘Grossly Exaggerated’
- Former managing director alleges he is owed C$65 million
- Omers says lawsuit is an attempt to boost bonus entitlements
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The Ontario Municipal Employees Retirement System said a claim by a former managing director that he was wrongfully dismissed is baseless.
Tim Patterson filed a lawsuit in Toronto in July, saying he and a colleague were dismissed from Omers in retaliation for not accepting changes to their compensation package. The former managing director claimed he was owed C$65 million ($51 million) after being fired, which Omers called “grossly exaggerated” in a statement of defense and counterclaim filed with the Superior Court of Justice in Ontario Wednesday. The Globe and Mail previously reported on the counterclaim.