Background:

• Initial Claim: Filed December 2018, alleging BMO Investments Inc. improperly paid trailing commissions to discount brokers for services not provided to BMO mutual fund unitholders.
• Class Certification: Certified on May 18, 2021.

Motion Details:

• Plaintiff's Motion: Extend the class period end date to May 31, 2022, when the impugned practice ceased due to regulatory changes.
• Defendant's Argument: Extending the class period would include statute-barred claimants.

Legal Issues:

1. Suspension of Limitation Periods: Whether section 28 of the Class Proceedings Act (CPA) suspends limitation periods for proposed new class members. The court found it does not toll claims of individuals who joined after certification.
2. Statute of Limitations: Whether claims of new class members are statute-barred, to be addressed in the individual issues phase.
3. Certification of New Claims: New class members do not seek to advance the prospectus misrepresentation claim.

Decision:

• Amending the Class Period: Motion granted to amend the class period to include members up to May 31, 2022.
• Limitation Period: Claims of new class members are not tolled under s. 28 of the CPA.
• Notice Program: Approved with required French language assistance information.

Costs:

• Each party bears its own costs due to divided success on the motion. No amount specified.

Successful Party:

The decision grants partial success to both parties:

• Plaintiff: Successfully obtained an order to amend the class definition.
• Defendant: Successfully argued that the claims of the proposed new class members are not tolled by virtue of section 28 of the CPA.