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, upholding a lower court decision, that these lawsuits are not prohibited by earlier similar class actions.
- BMO Investments Inc.
- Natcan Trust Co.
- National Bank Investments Inc.
were the target of proposed class actions filed in 2018.
The plaintiffs didn’t obtain leave from the court to bring their legal actions.
The court rejected motions to dismiss new trailer fee class actions against them.
Author's summary: Lawsuits against fund managers proceed.