Class Action Against CI, AIC and CIBC Asset Management
Class action description
This class action alleges that CI, AIC and CIBC Asset management allowed frequent short term market timing transactions in some of their funds, such transaction having the effect of diluting the return of ordinary long term investors.
All Quebec province residents who, between January 1st 2000 and December 31st 2003, owned shares of one or more of the mutual funds listed in the claim.
If you think you are part of this group, we invite you to submit your information and comments in order for us to generate a directory of members. We are inviting you to visit our website on a regular basis in order to be updated on the current case.
Quebec Class action instigated in October 2004; Ontario class action instigated in Mai 2005; During the summer of 2010, national settlement agreements were reached between claimants and Investors, MacKenzie, AGF and Franklin Templeton (those agreements were approved by the courts of Quebec and Ontario); On September 17th 2010, the Quebec class action was authorised by Justice Champagne. See following documents for update.