LONDON, ON, Oct. 9, 2024 /CNW/ – HAVE YOU HELD UNITS OF A TD MUTUAL FUND THROUGH A DISCOUNT BROKER?
A class action settlement has been reached with TD Asset Management Inc. for C$70.25 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 through a discount broker (“Class”).
The settlement is subject to approval by the Ontario Superior Court of Justice. A settlement approval hearing has been set for December 9, 2024. At that same hearing, the Court will also consider a motion to approve Class Counsel’s fees, which will not exceed C$17,920,000, 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, 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 by November 18, 2024.
If you are a Class Member who held units of a TD Mutual Fund through a Discount Broker for the first time on or after April 9, 2022 (meaning you never held units of a TD Mutual Fund through a Discount Broker on or before April 8, 2022), and you do not want to be part of the class action and be bound by the terms of the settlement, you must opt out by submitting a supplemental opt-out form by December 8, 2024.
For other Class Members (meaning you held units of a TD Mutual Fund through a Discount Broker on or before April 8, 2022, regardless of whether you continued to hold those units after April 8, 2022), your opt-out period expired on April 8, 2022 and there is no further right to opt out of the class action.
For important information regarding the class action, to determine if you are a member of the Class, to obtain a copy of the supplemental opt-out form, to object, and to understand your legal rights:
- View the long form notice at https://www.siskinds.com/class-action/mutual-fund-trailing-commissions/
- Call Class Counsel at (226) 636-1615 or toll-free 1(800) 461-6166
This settlement is only for the benefit of persons who held units of a TD mutual fund trust through a discount broker. If you held units of a TD mutual fund other than through a discount broker (e.g. through an investment advisor), there is a separate settlement for you. Please visit https://www.kalloghlianmyers.com/trailing 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 Siskinds LLP