CI will co-operate in Fairfax suit

Globe and Mail – A long-running legal dispute between Fairfax Financial Holdings Ltd. and a group of hedge funds has produced a sideshow involving the chief executive officer of one of Canada’s biggest mutual fund companies.

Fairfax, a Toronto-based insurance conglomerate, wants Bill Holland, the chief of CI Financial Corp., to testify in connection with its bitter lawsuit, which alleges hedge funds conspired to drive down its stock price.

Neither CI nor Mr. Holland is named in that lawsuit, and no wrongdoing is suggested. And while CI says it will co-operate, Mr. Holland yesterday called the situation absurd.

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