Market Timing Class Action Lawsuit
Update March 25, 2008:
Since delivering our certification materials to defence counsel, we have recently resolved outstanding issues with two other law firms who filed similar claims to the claim in this action.
We will be scheduling a case conference with the case management judge to set a timetable towards certification. We expect that the certification hearing will take place in the fall of 2008. We will continue to update this website as further developments occur.
Update July 26, 2007:
The plaintiffs' motion materials in support of certification of this class proceeding have now been served and filed with the Court. Our materials included an affidavit from each of our representative plaintiffs along with the affidavit of our expert, Robert Chambers. We will update this site once we have a date for the hearing of the certification motion before the Court.
Market Timing Class Action - Introduction
Rochon Genova LLP is prosecuting a class action on behalf of Canadians (excluding residents of Quebec) who invested in mutual funds managed by four fund companies between September 1998 and September 2003 as a result of market timing. The defendants named in the lawsuit are: IG Investment Management Ltd. (IG), CI Mutual Funds Inc. (CI), Franklin Templeton Investments Corp. (Templeton), AGF Funds Inc. (AGF), and AIC Limited (AIC). The claim, filed with the Ontario Superior Court of Justice, alleges that the defendants breached their fiduciary duties to unit holders and were negligent in allowing market timed trading of their funds.
To learn more about the proposed class action lawsuit, please navigate through the website using the links to the left.
For further information regarding your legal rights, contact Rochon Genova LLP via email, or telephone locally at (416) 363-1867 or toll free at 1-866-881-2292.