The Globe and Mail reports in its Thursday edition that two weeks after offering to buy Dye & Durham for $384-million, former chief executive officer Matt Proud and his private holding company Plantro are suing the company and its board for $200-million, alleging that it has acted to thwart their interests. The Globe's Sean Silcoff writes that the suit, filed Tuesday with Ontario Super Court, is a counterclaim against the company after it sued Mr. Proud and Plantro in October to get him to honour a July standstill agreement with D&D. The company claimed he had acted improperly and unlawfully to derail a fair sale process and "serve their own ambitions of acquiring the company at an artificially depressed price." The legal battle is unfolding as D&D faces a Dec. 18 deadline to file delayed financial statements. If it does not it will be in default under its senior credit agreement. D&D said last week that it expects to file the statements that week. It is also subject to a voluntary cease-trade order from the Ontario Securities Commission that bars CEO George Tsivin and interim financial officer Sandra Bell from trading its securities until two business days after the OSC receives its filings.