TD Mutual Funds Class Action Regarding Trailing Commissions Paid to Discount Brokers

Notice of Proposed Settlement

UPDATE TO NOTICE ISSUED NOVEMBER 2024

Have you held units of a TD mutual fund (other than through a discount broker)?

TORONTO, Jan. 18, 2025 /CNW/ - A class action settlement has been reached with TD Asset Management Inc. for C$8.5 million to resolve the claims asserted on behalf of all persons, wherever they may reside or be domiciled, who held or hold, at any time on or prior to September 11, 2024, units of a TD mutual fund trust, other than through a discount broker ("Class").

The Settlement is subject to approval by the Ontario Superior Court of Justice.

The Settlement Approval Hearing previously scheduled for January 13, 2025 has been rescheduled to January 31, 2025. 

At that same hearing, the Court will also consider a motion to approve Class Counsel's fees, which will not exceed 33 percent of the settlement amount (C$2,805,000), plus reimbursement for expenses incurred by Class Counsel in the litigation, plus taxes on the fees and disbursements.

If you wish to object to the Settlement, Class Counsel's fees and disbursements, the payment of an honorarium to the Plaintiff, or the Distribution Protocol that sets out the manner in which the net Settlement Funds will be distributed among eligible Class Members, you should do so no later than two days prior to the hearing date.

For important information regarding the class action, to determine if you are a member of the Class, to object, and to understand your legal rights:

• View the long-form notice at https://www.kalloghlianmyers.com/tdsettlement
  
  
• Call Class Counsel at [phone]

This Settlement is not for persons who held units of a TD mutual fund trust through a discount broker.

If you held units of a TD mutual fund through a discount broker (e.g., BMO InvestorLine, CIBC Investor's Edge, National Bank Direct Brokerage, RBC Direct Investing, Scotia iTRADE, TD Direct Investing, CI Direct Trading, Qtrade, Desjardins Online Brokerage, HSBC InvestDirect, Laurentian Bank Discount Brokerage, Wealthsimple, Questrade, and Interactive Brokers), there may be a separate settlement for you. Please visit https://www.siskinds.com/class-action/mutual-fund-trailing-commissions/ for more information about that settlement.

The publication of this notice was authorized by the Superior Court of Justice of the Province of Ontario.

SOURCE Kalloghlian Myers LLP

Contact (press only): Kalloghlian Myers LLP, [email protected]