The Globe and Mail reports in its Friday, Oct. 10, edition that Fiera Capital is embroiled in a legal dispute with its former infrastructure head, Alina Osorio, who is suing for wrongful dismissal and claims her departure was due to disagreements over handling $700-million in investor redemption requests. The Globe's Tim Kiladze writes that Ms. Osorio, who sold her infrastructure business to Fiera a decade ago, also asserts her right to buy it back. In response, Fiera has filed a lawsuit against her, alleging she attempted to orchestrate a sale of its majority interest in the infrastructure business and withheld investment information. None of the allegations have been proved in court. The lawsuits have extended a long-running drama at Fiera. Fiera's largest shareholder, Desjardins Financial Holdings, exited last year, leading to volatility in its share price after founder Jean-Guy Desjardins reclaimed control in January, 2023.
Fiera's shares have dropped 32 per cent since Mr. Desjardins returned, while the S&P/TSX Composite Index has risen about 45 per cent. Fiera's lawsuit claims that investments led by Ms. Osorio "performed poorly" and that fund performance "under her leadership was below the target range."
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