Did you invest in CIBC mutual funds? You may be entitled to compensation
Bnn Bloomberg
Canadians who held CIBC or Renaissance mutual funds before Sept. 5, 2025, may be eligible for an $11-million class-action settlement.Summary
An $11-million class-action settlement has been approved for Canadians who held units of CIBC Mutual Fund or Renaissance Mutual Fund on or before Sept. 5, 2025, provided the investments were not held through a discount broker. The lawsuit alleged that trailing commissions paid to discount brokers were excessive and unearned, a claim the defendants, including Canadian Imperial Bank of Commerce and CIBC Asset Management, denied. While current holders of CIBC or Renaissance mutual funds will have compensation deposited directly into their funds, former holders who no longer own the funds must submit a claim form by Nov. 18, 2026.
(Source：Bnn Bloomberg)