CIBC Asset Management Class Action
Resolved Class Action
Kugler Wechsler obtains a settlement in the Class Action in Connection With Investment Losses From Currency Fluctuation Risk Introduced in the Renaissance U.S. Index Fund.
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Kugler Wechsler filed a class action on behalf of investors of a mutual fund (unit holders of the Atlas American RSP Index Fund, subsequently known as the Merrill Lynch U.S. RSP Index Fund, then known as the Renaissance U.S. RSP Index Fund and thereafter known as the Renaissance U.S. Index Fund) who sustained investment losses as a result of the fund administrator introducing the risk of currency fluctuations, and thereby materially changing the nature of the investment.
The Superior Court of Québec approved a settlement of the case, pursuant to which class members recovered $20 million.