Bloomberg News

Thomson Reuters Manager Fired in Unit Sale Sues for Lost Bonus

May 01, 2012

A former Thomson Reuters Corp. (TRI) manager sued the company for about 2.6 million pounds ($4.2 million), saying he was wrongly fired for “improper” conduct during the 2012 sale of the company’s risk-management business.

Andrew White, who ran the company’s trade and risk management arm, is seeking wages, bonuses and other benefits lost when he was dismissed for alleged gross misconduct in November, according to a complaint filed in London. Documents describing the claim were filed in March and released by the court April 27.

Vista Equity Partners LLC, based in San Francisco, completed a deal in February to buy Thomson Reuters’ risk management software unit for an undisclosed sum. It renamed the business Turaz, according to a statement on its website.

“Thomson Reuters believes the claim filed by Andrew White is without merit and we will defend vigorously,” Yvonne Diaz, a spokeswoman for the company in London, said in an e-mailed statement. She wouldn’t comment on the alleged misconduct.

White’s lawyer, Angela Simpson, said in an e-mail that her client had filed a wrongful dismissal claim related to the sale of the risk management business. She declined to comment further.

White was scheduled to receive a one-time bonus of $500,000 on completion of the sale to Vista, according to his complaint. His annual salary as head of the unit was about 260,000 pounds with a bonus of as much as 390,000 pounds.

Bloomberg LP, the parent of Bloomberg News, competes with Thomson Reuters in selling financial and legal information and trading systems.

The case is White v. Reuters Ltd., High Court of Justice, Queen’s Bench Division, HQ12X01295.

To contact the reporter on this story: Kit Chellel in London at cchellel@bloomberg.net

To contact the editor responsible for this story: Anthony Aarons at aaarons@bloomberg.net


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