Ousted MPD executives Patrice Theroux and Paul Labergelashed back at their former employer, responding through their lawyer to anannouncement earlier today from MPD that the duo were "terminated with cause".
Toronto law firm Lenczner Slaight said their clients "werewrongfully dismissed" by MPD and did not breach their fiduciary or contractualduties.
"I look forward to obtaining for my clients theircontractual severance and other entitlements in court," Alan Lenczner ofLenczner Slaght said in the statement. "The facts in this case are quitestraightforward: Messrs. Theroux and Laberge were engaged in a process ofmaximizing shareholder and unitholder value. They did not breach theirfiduciary or contractual duties. They were acting in the best interestsof the company and the unitholders at all times. The allegations ofdeceit and acting for personal gain are wholly without merit and will bevigorously defended. My clients regard these allegations as malicious andharmful to their reputation."
Lenczner questioned the timing of MPD's move. "It's curious,to say the least, why MPD Inc. would choose to take this position a month afterterminating my clients and while they are in the middle of considering aperfectly valid offer." Further, Lenczner dismissed the MPD's claims ofnon-compete oblgations.
"With respect tonon-compete obligations," said Lenczner, "the non-compete provisions asoutlined in the employment contracts are not enforceable against formerChairman Loewy or Messrs Theroux and Laberge."