CIBC MUTUAL FUNDS CLASS ACTION REGARDING TRAILING COMMISSIONS PAID TO DISCOUNT BROKERS
NOTICE OF CERTIFICATION AND OPT-OUT DEADLINE
HAVE YOU HELD UNITS OF A CIBC MUTUAL FUND THROUGH A DISCOUNT BROKER?
LONDON, ON, Feb. 26, 2024 /CNW/ - The Superior Court of Justice of Ontario has certified a class action which permits a defined group of investors (the "Class") to pursue claims against CIBC Trust Corporation and Canadian Imperial Bank of Commerce ("Defendants"). It is alleged that the Defendants paid excessive, inflated, and/or unearned trailing commissions to Discount Brokers out of the assets of the CIBC Mutual Fund trusts. The class action claims monetary damages on behalf of the Class. The allegations made in the class action have not been proven and are contested by the Defendants.
If you wish to participate in the class action, DO NOTHING.
If you do not wish to participate in the class action, be bound by or receive any benefits from it, you must opt out by sending the opt-out form to RicePoint Administration Inc. by May 26, 2024.
To obtain a copy of the opt-out form or for other important information regarding the class action:
- Visit https://www.siskinds.com/class-action/mutual-fund-trailing-commissions/
- Call toll-free 1-800-461-6166 ext. 1615 (North America)
- Call 226-636-1615 (Outside North America)
The publication of this notice was authorized by the Superior Court of Justice of the Province of Ontario
SOURCE Siskinds LLP
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