CIBC Mutual Funds and Renaissance Mutual Funds Class Action Regarding Trailing Commissions Paid to Discount Brokers

Core Points - A class action settlement has been reached with Canadian Imperial Bank of Commerce and CIBC Trust Corporation for $26 million to resolve claims for individuals who held units of CIBC or Renaissance Mutual Funds through discount brokers from September 18, 2003 to January 25, 2024 [1] - The settlement is pending approval from the Ontario Superior Court of Justice, with a hearing scheduled for November 5, 2025, where Class Counsel's fees up to $7,280,000 will also be considered [2] Class Member Information - Class Members who held units of Renaissance Mutual Fund through a discount broker and wish to opt out must submit a supplemental opt-out form by October 27, 2025 [4] - For Class Members who held units of CIBC Mutual Fund through a discount broker, the opt-out period has expired as of May 26, 2024, and no further opt-out is available [5] Additional Information - The settlement is specifically for individuals who held units of CIBC or Renaissance Mutual Funds through discount brokers; those who held units through other means have a separate settlement [6] - For further details regarding the class action, individuals can visit the provided website or contact Class Counsel directly [8]