The plaintiffs in a class action alleging a price-fixing conspiracy in the foreign exchange market brought a motion to amend their statement of claim to add BMO and TD as defendants.
The proposed defendants argued the claims were statute-barred under the Limitations Act, 2002.
The plaintiffs claimed they only discovered the involvement of BMO and TD after receiving a proffer of evidence from a settling defendant.
The court dismissed the motion, finding that the plaintiffs failed to exercise reasonable diligence to discover the claims against BMO and TD before the expiry of the limitation period.
