Trailer Fee Class Actions Allowed to Proceed
An Ontario court has ruled that proposed class action lawsuits against fund managers can proceed.
The lawsuits involve different investor groups and are not prohibited by earlier similar lawsuits.
- BMO Investments Inc.
- Natcan Trust Co.
- National Bank Investments Inc.
These firms appealed a lower court ruling from November 2024, which rejected their motions to dismiss new trailer fee class actions.
The plaintiffs didn’t obtain leave from the court to bring their legal actions.
The firms were the target of proposed class actions filed in 2018 over the payment of trailer fees to discount brokers.
Author's summary: Court allows trailer fee class actions to proceed.
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