CIBC and Renaissance Mutual Funds Settlement

Who is covered by this settlement?

• People are included if they held or hold qualifying CIBC or Renaissance mutual fund units at any time on or before September 5, 2025, and did not hold them through a discount broker.
• The notice excludes the defendants and CAM, certain people and entities connected with them, independent review committee members, and people who previously opted out of the class action.

Does this settlement cover units held through a discount broker?

• No. This settlement is for people who held the units other than through a discount broker.
• The notice says a separate settlement may be available for people who held CIBC or Renaissance fund units through a discount broker.

The claim requirement depends on the type of fund holding.

• You must submit a Claim Form if you previously held CIBC mutual fund units but no longer hold any CIBC units.
• The notice states that current CIBC holders do not need a Claim Form. It also states that no Claim Form is needed for Renaissance holdings, whether those units were held in the past or are held now.

These payments are described as fund deposits, not claim payments.

• For current CIBC holdings, a portion of the net settlement amount is to be deposited directly into those mutual funds.
• For Renaissance holdings, a portion is to be deposited directly into existing Renaissance mutual funds.
• The notice does not give a distribution date or a dollar amount for an individual holding.

The two types of holdings can qualify for separate settlement treatment.

• Yes. The notice says people who hold or held both CIBC and Renaissance mutual fund units may receive compensation for both holdings.
• A former CIBC holding still requires a Claim Form. Renaissance holdings do not require a Claim Form under this notice.

This deadline applies to people who need to file a claim for former CIBC holdings.

• The Claims Bar Deadline is November 18, 2026.
• Online filing is recommended. The Administrator also accepts Claim Forms by mail or courier.
• The notice directs mailed or couriered forms to the Administrator using its listed contact details.

The specific evidence requirements are not provided in this notice.

• The notice does not list the documents required for a former CIBC claim.
• It directs people with questions about supporting documentation to contact the Administrator.

The full C$11 million is not described as the amount available for direct distribution to class members.

• The settlement amount is C$11 million.
• Before distribution, the settlement fund will pay approved class counsel fees and expenses, amounts owed to the funder, the $500 plaintiff honorarium, and administration expenses.
• The remaining Net Settlement Amount will be distributed under the court-approved Distribution Protocol. The notice does not state each person's payment amount.

This is the legal effect of the approved settlement for class members who remained in the class.

• Class members who did not opt out release claims asserted in the action, as well as claims that could have been asserted in it.
• The notice says the action will be dismissed as part of the settlement.