Ontario Superior Court Awards Over $170 Million in Damages to Mutual Fund Investors
The Ontario Superior Court awarded over $170 million in damages and interest to mutual fund investors who were affected by market timing practices. The landmark class action, which began in 2006, found that CI Mutual Funds Inc. (ticker: CMF) and AIC Limited breached their duty of care by allowing offshore hedge funds to engage in frequent trading, diluting long-term investor returns.
Tickers: $CMF
Topics: court ruling market timing mutual funds retail investors