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, which rejected their motions to dismiss new trailer fee class actions.
- The firms were targeted in proposed class actions filed in 2018.
- The court upheld a lower court decision, allowing the lawsuits to proceed.
No quotes available in the text.
Author's summary: Lawsuits against fund managers can proceed.