Trailer Fee Class Actions Allowed to Proceed
Proposed class action lawsuits against fund managers over trailer commissions to discount brokers can proceed, an Ontario court has ruled.
A trio of firms - BMO Investments Inc., Natcan Trust Co., and National Bank Investments Inc. - appealed a lower court ruling from November 2024.
- The firms were the target of proposed class actions filed in 2018.
- The lawsuits involve different investor groups, the court found.
The court upheld a lower court decision, allowing the lawsuits to proceed without leave from the court.
No quotes available in the text.
Author's summary: Lawsuits against fund managers can proceed.