Class Actions

Consumer Class Actions

Investigation Counsel P.C. acts on behalf of Canadian consumers in cases involving dangerous or shoddy products; misleading advertising that misrepresents the alleged quality or benefits of a consumer product or service; invasion of privacy and the unauthorized access and use of consumers’ personal data; and fraudulent billing that results in consumers paying hidden charges and fees.

Participation In A Consumer Class Action

By participating in a class action, consumers have the ability to achieve a settlement or judgment in favor of the class that results in fair compensation and that can benefit the public at large by deterring and preventing unfair and deceptive business practices, the misuse of confidential information, and the manufacture and distribution of inherently dangerous products.

Investigation Counsel can provide knowledgeable, timely guidance and representation in consumer class actions and protect your rights as a consumer.  We welcome your inquiries.  You can also view a list of current consumer class actions below.

Norton Anti-Virus Class Action

Toronto law firm Investigation Counsel Professional Corporation has launched a proposed class action against Symantec Corporation. Those affected are all Ontario residents who purchased Norton  branded security and antivirus software anytime  between July 2010 through July 2016.

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Investor Class Actions

Investment losses are an inevitable part of investing in the stock market.  Investors assess the potential risk and reward of an investment in a public company based on publicly available information.  However, they do not assume the risk of misleading financial statements, misrepresentations in MD&A, oppressive conduct by directors and officers, insider trading, market manipulation, and professional negligence involving a company’s auditors or professional advisors.  Corporate and securities laws are designed to protect investors from losses arising from such misconduct.

Regulators like the OSC and IIROC have limited resources – they simply cannot investigate and prosecute all instances of securities fraud and market manipulation and it is not their mandate to seek compensation for investor losses.  As a result, individual investors often assume there is nothing that can be done when their losses are small compared to what it would cost them to hire a lawyer to pursue a legal action.

An investor class action can be a powerful litigation strategy to recover your investment losses.  By aggregating individual investment losses, an investor class action provides strength in numbers giving ordinary investors a means of collectively enforcing their rights and fighting injustice in the stock market and the corporate boardroom.

An investor class action should also be an important consideration for institutional investors that purport to take corporate governance and ethics seriously.  By taking a lead role in investor class actions, pension and hedge funds can reaffirm their principles of responsible investment and send a strong message to public companies, their directors and officers, and other market players that misleading disclosure and corporate misconduct will not be tolerated.  In turn, they will encourage greater transparency and accountability and better protect their clients’ interests.

Investigation Counsel can provide knowledgeable, timely guidance and representation in investor class actions and assist in the recovery of investment losses.  We welcome your inquiries. 

CIBC Closet Indexing Class Action

Investigation Counsel P.C. and Paul Bates, Barrister (collectively, “Class Counsel”) have filed a class action in Vancouver, British Columbia against Canadian Imperial Bank of Commerce (“CIBC”) and CIBC Trust Corporation (“CIBC Trust”) regarding the CIBC Canadian Equity Fund (the “Equity Fund”), the Renaissance Canadian Growth Fund (the “Growth Fund”), the Renaissance Canadian Core Value Fund (the “Value Fund”), and the following CIBC Portfolio Funds:

  •  CIBC Managed Aggressive Growth Portfolio
  •  CIBC Managed Growth Portfolio
  •  CIBC Managed Balanced Growth  Portfolio
  •  CIBC Managed Balanced Portfolio
  •  CIBC Smart Income Solution
  •  CIBC Smart Balanced Income Solution
  •  CIBC Smart Balanced Solution
  •  CIBC Smart Balanced Growth Solution
  •  CIBC Smart Growth Solution

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HSBC Closet Indexing Class Action

Investigation Counsel P.C. and Paul Bates, Barrister (collectively, “Class Counsel”) have filed a class action in Vancouver, British Columbia against HSBC Global Asset Management (Canada) Limited (“HSBC GAM”) and HSBC Investment Funds (Canada) Inc. (“HSBC IS”) regarding the HSBC Equity Fund (the “Equity Fund”). 

This action was filed on behalf of all persons, wherever they reside or are domiciled, who hold or held directly, or indirectly (via HSBC “portfolio” or “fund of funds” products”), units of the Equity Fund at any time from June 1, 2005 to present.

The plaintiff alleges that assets of the Equity Fund, and the assets of other mutual funds known as HSBC “World Selection” funds, which held the Equity Fund, have been depleted by excessive fees that HSBC GAM (and HSBC IS prior to December 2010) as trustee of those funds paid to itself as manager of the Equity Fund.

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RBC Closet Indexing Class Action

Investigation Counsel P.C. and Paul Bates, Barrister (collectively, “Class Counsel”) have filed a class action in Vancouver, British Columbia against RBC Global Asset Management Inc. (“RBC GAM”) and The Royal Trust Company (“Royal Trust”) regarding RBC Canadian Equity Fund (Fund Code: RBF269) (the “Canadian Equity Fund”). 

This action was filed on behalf of all persons, wherever they reside or are domiciled, who hold or held directly, or indirectly (via RBC “portfolio” or “fund of funds” products”), units of the Canadian Equity Fund at any time from June 1, 2005 to present.

The plaintiffs allege that assets of the Canadian Equity Fund, and the assets of other mutual funds known as RBC Portfolio Funds holding the Canadian Equity Fund, have been depleted by excessive fees paid to the fund manager, RBC GAM, by the trustee of the Canadian Equity Fund and Portfolio Funds.

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TD Closet Indexing Class Action

Investigation Counsel P.C. and Paul Bates, Barrister (collectively, “Class Counsel”) have filed a class action in Vancouver, British Columbia against TD Asset Management Inc. (“TDAM”) regarding TD Canadian Equity Fund (Fund Code: TDB161) (the “Canadian Equity Fund”).

This action was filed on behalf of all persons, wherever they reside or are domiciled, who hold or held directly, or indirectly (via TD “portfolio” or “fund of funds” products), units of the Canadian Equity Fund at any time from January 1, 2010 to July 31, 2020.

The plaintiff alleges that assets of the Canadian Equity Fund, and the assets of other mutual funds known as TD Portfolio Funds holding the Canadian Equity Fund, have been depleted by excessive fees that TDAM, as trustee for the Canadian Equity Fund and the Portfolio Funds, paid to itself as manager of the Canadian Equity Fund.

 

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