Montreal-based Saputo Inc. has launched defamation lawsuits against the owners of three Canadian newspapers over stories that the cheesemaker says contained "false allegations" that linked chairman Lino Saputo with organized crime.

Saputo is suing CTVGlobemedia, which publishes the Globe and Mail; Quebecor Inc., the owner of the Sun Media group of papers, and Gesca Ltd., the owner of Montreal's La Presse newspaper.

Saputo three-month trading

"The newspaper articles contained false allegations about Mr. Lino Saputo and Saputo Inc. and we will not tolerate the dissemination of false and misleading information which is harmful to our name, reputation and business interests," said a statement from company CEO Lino Saputo Jr., the chairman's son.

Saputo said the media organizations "acted recklessly and in bad faith by publishing information they knew or ought to have known [was] false and slanderous."

The Canadian lawsuits relate to stories that appeared in a number of newspapers in December.

"Lino Saputo is not and has never been under investigation by the Italian police and has never been named in the complaints record of the Italian authorities," the company's statement said.

"Lino Saputo has never had any link with the Italian or Sicilian Mafia or with any other criminal organization," it added.

An Italian weekly magazine, L'Espresso, is also being sued for articles that ran in November.

The 70-year-old Lino Saputo is one of Canada's wealthiest businessmen. Forbes magazine last week pegged his fortune at $1.5 billion US.

Saputo shares were down $1.24 at $26.68 in late afternoon trading on the TSX. 

(With files from the Canadian Press)