Class Action Regarding the Temporary Shutdown of the Royal Bank’s Account Management System
Class action description
Following an error by an employee of Royal Bank during an update, the computer system which managed clients’ accounts temporarily shut down. Information on transactions and balances were disturbed for over a week. The shut down occurred on a Wednesday, at the end of a month, while payroll and regular monthly transactions were about to take place.
Quebec customers of the Royal Bank of Canada at that time of the shut down.
June 7 2004 : Motion to authorize the bringing of a class action;
October 17 2006: Judgment about the authorization of the class action;
July 7 2009: Settlement and release;
October 5 2009: Judgement upon approval of the transaction.