Trailer Fee Class Actions Allowed to Proceed
Proposed class action lawsuits against fund managers over trailer commission payments 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 decision from November 2024.
- The lower court rejected motions to dismiss new trailer fee class actions.
- The firms were targets of proposed class actions filed in 2018.
No quotes available in this text.
The court upheld the lower court decision, allowing the lawsuits to proceed.
Author's summary: Lawsuits against fund managers can proceed.
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