Trailer Fee Class Actions Allowed to Proceed
Ontario court upholds lower court decision, permitting proposed class action lawsuits against fund managers to move forward.
Lawsuits, filed in 2018, involve different investor groups and concern the payment of trailing commissions to discount brokers by BMO Investments Inc., Natcan Trust Co., and National Bank Investments Inc.
A lower court ruling from November 2024 rejected the firms' motions to dismiss the new trailer fee class actions, and the Ontario court has now upheld this decision.
The court found that the plaintiffs did not require leave from the court to bring their legal actions.
- BMO Investments Inc.
- Natcan Trust Co.
- National Bank Investments Inc.
Author's summary: Court allows class actions against fund managers to proceed.
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