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ARTICLE · 20 JULY 2016

No More Kicks At The Discovery Can: Motion To Examine CEO Second Witnesses Denied

Osler, Hoskin & Harcourt LLP
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The plaintiffs in Fischer allege that the defendant mutual fund managers AIC and CI breached a duty of care and fiduciary duty owed to class members by permitting market timing activity.

CanadaLitigation, Mediation & Arbitration
Osler, Hoskin & Harcourt LLP
Osler, Hoskin & Harcourt LLP
Geoffrey Hunnisett
Geoffrey Hunnisett
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On July 5, 2016, Justice Perell of the Ontario Superior Court released a decision in Fischer v IG Investment Management Ltd., which (among other things) denied the plaintiffs' motion to examine certain senior executives of the defendant AIC Limited ("AIC"), and CI Financial Corp. (parent of the defendant CI Mutual Funds Inc. ("CI")).

Background

Fischer is a class proceeding dealing with the investment technique known as 'market timing', which involves short-term 'in-and-out' trading of mutual funds. The plaintiffs in Fischer allege that the defendant mutual fund managers AIC and CI breached a duty of care and fiduciary duty owed to class members by permitting market timing activity.

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