Trailing Commissions Class Actions

Kalloghlian Myers LLP has commenced proposed class actions on behalf of investors that held mutual funds offered by ScotiaBank (1832 Asset Management L.P.), BMO, CIBC, Mackenzie Financial, National Bank, RBC, and TD (the “Class Members”). The Class Members do not include investors that held mutual funds through a discount broker.

• The cases allege that the defendants’ payments of trailing commissions to discount brokers from the mutual fund assets were improper and caused investors to suffer diminished returns on their mutual fund units.

CIBC/Renaissance Notice of Settlement

Have you held units of a CIBC mutual fund or a Renaissance mutual fund (other than through a discount broker)? A class action settlement has been reached with Canadian Imperial Bank of Commerce and CIBC Trust Corporation for C$11 million.

• A copy of the long form notice is available here

• A copy of the short form notice is available here

CIBC/Renaissance Avis de règlement

Avez-vous déjà détenu des parts d’un Fonds commun de placement CIBC ou Renaissance (autrement que par l’intermédiaire d’un courtier à escompte)? Un règlement conclu avec la Banque Canadienne Impériale de Commerce et Compagnie Trust CIBC dans le cadre d’une action collective prévoit le versement d’une somme de 11 millions de dollars canadiens.

• Une copie de l'avis détaillé est disponible ici

• Une copie de l'avis simplifié est disponible ici