the court decided that a company called bmo did something wrong when it paid extra money to some other companies called discount brokers. now, more people can join a big group to say that bmo did something wrong. if you want to join the group, you don't need to do anything. if you don't want to be part of the group, you have to tell them before a certain date. Read from source...
1. Inconsistency: The article first states that BMO has been accused of breaching legal and/or equitable duties to investors, but then goes on to say that the allegations made in the class action have not been proven and are contested by BMO.
2. Biases: The article seems to favor BMO, as it implies that the class action against them is not based on solid evidence. Moreover, it does not present a balanced perspective on the matter, as it does not consider the possible benefits that the class action might have for investors.
3. Irrational arguments: The article does not provide any rational explanation as to why BMO would pay trailing commissions to Discount Brokers, which are allegedly the cause of the breach of legal and/or equitable duties.
4. Emotional behavior: The article's tone is confrontational, as it repeatedly states that the allegations made against BMO are contested by the company. This could provoke emotional reactions from readers, which could cloud their judgment on the matter.
The article suggests that a class action lawsuit has been filed against BMO Investments Inc. On behalf of investors who held units of BMO Mutual Funds through Discount Brokers. It is alleged that BMO paid trailing commissions to Discount Brokers, which breached their legal and equitable duties to the investors. The lawsuit claims monetary damages for the investors, but the allegations have not been proven.
Investors who held units of BMO Mutual Funds through Discount Brokers should monitor the progress of this lawsuit and seek legal advice if necessary. If they wish to participate in the class action, they do nothing. However, if they do not wish to participate, they must opt-out by a specific deadline.
This lawsuit could potentially impact the value of BMO Mutual Funds held by investors through Discount Brokers. Investors should consider the risks associated with holding such investments and seek professional advice if they are unsure about the implications of this lawsuit.