The deadline to claim money from a $70M TD class action lawsuit settlement is approaching
Don't miss out on money!
TD sign.
If you want to get money from the TD class action lawsuit, time is running out.
The deadline is approaching, so you have to submit a claim soon.
There is a $70,250,000 settlement in this TD Mutual Funds Discount Broker Trailing Commissions class action.
Class members are all persons who held or hold units of a TD Mutual Fund through a discount broker at any time on or before September 11, 2024.
TD Mutual Funds refers to all mutual fund trusts TD Asset Management Inc. is or was trustee of at any time on or before September 11, 2024.
That includes mutual funds that have been terminated, mutual funds that have been merged into other mutual funds, and mutual funds that have undergone name changes.
Examples of discount brokers are:
- BMO InvestorLine
- CIBC Investor's Edge
- National Bank Direct Brokerage
- RBC Direct Investing
- Scotia iTRADE
- TD Direct Investing
- CI Direct Trading
- Qtrade
- Desjardins Online Brokerage
- HSBC InvestDirect
- Laurentian Bank Discount Brokerage
- Wealthsimple
- Questrade
- Interactive Brokers
The deadline to file a claim for compensation is Saturday, December 20, 2025.
So, here's what you need to know about the claims process if you're a class member and want to get money.
You can submit a claim online with a Claim ID and PIN or without that information.
There is a "claimant information" section in the online claims process that requires you to enter your personal information, including your name, address, and email.
Also, you have to provide details on the aggregate market value of all TD Mutual Fund units held in one of the monthly, quarterly, semi-annual or annual increments from the beginning of your ownership through May 31, 2022.
Then, you have to upload your supporting documentation.
In the "payment details" section, you can choose to opt for payment via cheque instead of Interac e-transfer.
If you bank with CIBC or Simplii and don't have Interac e-transfer autodeposit, you're being told to opt for a cheque.
That's because CIBC and Simplii customers have experienced difficulties manually depositing Interac e-transfers.
If you bank with another institution and don't have autodeposit set up for Interac e-transfers, the security answer will be your birth month.
You have to enter your birth month in the "payment details" section of the claim form.
The e-transfer will be sent to the email you entered in the "claimant information" section.
Payments won't be made to authorized Claimants if their pro rata entitlement is $25 or less.
Those amounts will be allocated pro rata to other authorized claimants whose payment entitlements are more than $25.
This article's cover image was used for illustrative purposes only.