DR. OMID ZAHEDI NIAKI v. DESJARDINS TRUST INC. AND AL.
Status: Class Action awaiting authorization
This class action was launched against the Fédération des Caisses Desjardins du Québec, Desjardins Trust inc. and Desjardins Investments inc. concerning the receipt of improper and unjustified management and transaction fees contrary to the interests of the holders of, among others, the following Desjardins financial products :
(i) Melodia Moderate Growth Portfolio (ii) Melodia Diversified Growth Portfolio (iii) Melodia Balanced Growth Portfolio (iv) Melodia Aggressive Growth Portfolio (v) Melodia Maximum Growth Portfolio (vi) Melodia Very Conservative Income Portfolio (vii) Melodia Conservative Income Portfolio (viii) Melodia Moderate Income Portfolio (ix) Melodia Diversified Income Portfolio (x) Chorus II Conservative Portfolio (xi) Chorus II Balanced Income Portfolio (xii) Chorus II Balanced Growth Portfolio (xiii) Chorus II Growth Portfolio (xiv) Chorus II High Growth Portfolio (xv) Chorus II Dynamic Growth Portfolio (xvi) Chorus II Aggressive Growth Portfolio (xvii) Chorus II Maximum Growth Portfolio
The class action seeks the restitution to the investors of the management and transaction fees overpaid by Desjardins Trust inc. since 2005, in addition to material and punitive damages.