Investor Group Drops Suit Against Metro CEO

MONTREAL -- A group of investors has called off a campaign to dismiss Pierre Lessard, president and chief executive officer of Metro here, and said it would also drop a lawsuit over Lessard‘s compensation agreement. The group, Regroupment des Marchands Actionnaires, said the campaign, which began in 2003, was no longer in its best interest of Metro shareholders but that it would continue with a suit challenging Metro‘s conversion of certain stock shares from Class B to subordinate Class A shares. Metro in a statement said it would continue to contest proceedings in the latter suit.