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.
The court upheld a lower court decision, rejecting motions to dismiss new trailer fee class actions against BMO Investments Inc., Natcan Trust Co., and National Bank Investments Inc.
- The firms were targeted in proposed class actions filed in 2018.
- The lawsuits involve different investor groups.
The court ruling allows the lawsuits to proceed without obtaining leave from the court.
The decision comes after the firms appealed a lower court ruling from November 2024.
Author's summary: Court allows trailer fee class actions to proceed.
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