Talvest Class Action Settlement

Important Updates

 

 

If you are one of the members covered by the Agreement, your share of the indemnity in the amount of approximately $16.48 will be sent directly to you by cheque to your last known address, without having to make a claim within 90 calendar days of the Settlement being approved.

 

If you would like to confirm what address your cheque is being sent to, please call 1 877-739-8940.

 

The Settlement was approved by the Superior Court of Quebec on April 16, 2019.

Claude Ravary and CIBC Asset Management Inc. (hereinafter "CAMI") have entered into an agreement (hereinafter "the Agreement") in the context of a class action filed against CAMI and others in the case of the Superior Court of Quebec number 500-06-000256-046 (hereinafter "Collective Action").

 

The Class Action alleges that, between January 1, 2000 and December 31, 2003, CAMI permitted or failed to prevent a practice of frequent and short-term investment by certain investors in the mutual funds listed above. Class Action alleges that this practice reduces the return of ordinary investors over the long term. CAMI denies having committed a fault, denies any liability, and disputes the merits of the Class Action.

 

The Agreement provides for the payment of an indemnity of $ 625,000 (hereinafter "indemnity") and reimbursement of the costs of publication of notice to the class up to the amount of $ 30,000.

 

After deduction of the distribution fees and the fees and disbursements to be approved from the Applicant's Counsel, and the applicable taxes on those amounts, the Indemnity will be divided equally between the Settlement Investment Accounts held at Talvest between January 1, 2000 and May 31, 2001.

 

If you are one of the members covered by the Agreement, your share of the indemnity in the amount of approximately $16.48 will be sent directly to you by cheque to your last known address, without having to make a claim within 90 calendar days of the Settlement being approved. If you would like to confirm what address your cheque is being sent to, please call 1 877-739-8940.

The Settlement was approved by the Superior Court of Quebec on April 16, 2019.

 

Cheques will be issued to eligible subclass members within 90 calendar days of April 16, 2019.

 

 

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