Trailer Fee Class Actions Allowed to Proceed
Proposed class action lawsuits against fund managers over trailing 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 over trailer fee payments.
- The court upheld a lower court decision, allowing the lawsuits to proceed.
No quotes available in the text.
The court's decision enables different investor groups to pursue their lawsuits against the fund managers.
Author's summary: Court allows trailer fee class actions to proceed.
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