Former CIBC and Renaissance fund holders have until Nov. 18 to claim a share of $11M

Former holders of CIBC and Renaissance mutual funds have until Nov. 18, 2026 to file a claim for part of an $11-million class-action settlement approved by the Ontario Superior Court of Justice in May.

The settlement covers those who held units of a CIBC mutual fund trust or Renaissance mutual fund trust at any time on or before Sept. 5, 2025, excluding units held through a discount broker. The lawsuit alleges CIBC and CIBC Asset Management paid excessive or unearned trailing commissions to discount brokers out of fund assets. Both companies agreed to the settlement without admitting liability.

Current holders are paid automatically and need not file. Former holders who no longer hold units must submit a claim form with proof of their earlier holdings, such as an account statement or broker confirmation. Eligible claimants could receive $32, paid by e-transfer or cheque.