Forex Canadian Class Action – June 16, 2020

June 17, 2020

Bank of Montreal, BMO Financial Corp., BMO Harris Bank N.A. and BMO Capital Markets Limited. (collectively the “BMO”) entered into a formal settlement agreement, whereby BMO agreed to pay CAD$250,000. The settlement is a compromise of disputed claims and BMO does not admit any wrongdoing or liability. The settlement agreement must be approved by the courts for its terms to become effective. Please click here to review a copy of the Settlement Agreement.

The Ontario court has approved a notice of certification for settlement purposes which, among other things, explains what steps someone can take if they object to the settlement. The motion to approve the BMO settlement, and class counsel’s request for fees and reimbursement of its disbursements, in Ontario is scheduled for July 16, 2020, and in Quebec is scheduled for August 7, 2020. Please click here to review the Notices in English, and click here to review the Notices in French.

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