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		</div><p>Mike Ashley&#8217;s Sports Direct has lashed out at an influential shareholder lobby group, accusing it of &#8220;fake news&#8221; for claims over its executive pay ratios.</p>
<p>The retailer said a report by Pensions &#038; Investment Research Consultants (PIRC) &#8220;incorrectly claims that Sports Direct had a chief executive-to-average employee pay ratio of 400:1, the second highest in the FTSE 350&#8221;.</p>
<p>The data sets used in the study were &#8220;incorrect&#8221;, according to the retailer, and based on a bonus entitlement which was accrued by former chief executive Dave Forsey, but was never paid out.</p>
<p>A Sports Direct spokesman said: &#8220;This is fake news that appears to have been either deliberately or recklessly circulated by an irresponsible organisation that is making headlines at the expense of Sports Direct.</p>
<p>&#8220;We have contacted PIRC to request a copy of the report and we will be writing to them to express our disappointment. It is incorrect to state that Sports Direct has the second-highest ratio of chief executive-to-average employee pay.&#8221;</p>
<p>Sports Direct added that the true ratio over 2012 to 2015, had it paid out, would have been &#8220;closer to 9:1&#8243;. Mr Ashley, who came under fire from MPs over &#8221;Victorian&#8221; working conditions at the firm&#8217;s warehouse in Shirebrook, Derbyshire, last year, has been a busy man recently.</p>
<p>Last week the tycoon said Sports Direct will appoint an employees&#8217; representative who will attend board meetings following the uproar over working conditions.</p>
<p>He has also snapped up an 11% stake in French Connection and upped the position Sports Direct has in Debenhams to above 11%.</p>
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