Investor Group Brings Action Against AIC

Investors Group Inc. has brought an action in Ontario against mutual fund company AIC Limited, and two securities dealers affiliated with AIC Limited, Berkshire Investment Group Inc. and Berkshire Securities Inc., seeking permanent injunctive relief, $10 million in general damages, and punitive damages. Investors Group, alleges, among other things, that AIC and the Berkshire Group improperly targeted and recruited persons from Investor Group’s ranks, including sales managers, consultants, and mutual fund portfolio managers and analysts with varying degrees of intensity and success, across Canada, since 1995. The suit alleges that the corporate defendants have engaged in a pattern of behaviour over the past five years intended to injure the plaintiff.

Investors Group are represented by John Roland and Lawrence Ritchie of Osler, Hoskin & Harcourt LLP. Joel Wiesenfeld and Jane Ratchford of Fogler, Rubinoff LLP, are representing AIC Limited and the Berkshire companies.