The plaintiff, Mr. Im, and the defendants (BMO InvestorLine Inc./Bank of Montreal and CIBC Investor Services Inc./Canadian Imperial Bank of Commerce) each brought motions for summary judgment regarding Mr. Im's allegations of improper trade prohibitions in his investment accounts.
Mr. Im claimed damages for malice, misrepresentation, breach of fiduciary duty, negligence, emotional distress, and forfeited profits.
The court found that the financial institutions did not owe fiduciary duties to Mr. Im, did not breach their contractual obligations, were not negligent, and did not engage in intentional infliction of emotional suffering, injurious falsehood, or conspiracy.
The court granted leave to amend the pleading to substitute CIBC ISI for CIBC for the limitations defence but ultimately dismissed Mr. Im's claims on their merits.
Mr. Im's motion for summary judgment was dismissed, and the defendants' motions for summary judgment were granted, resulting in the dismissal of all of Mr. Im's claims.
