Court File and Parties

COURT FILE NO.: CV-22-00684723-00CP and CV-22-006685386-00CP DATE: 20230116 SUPERIOR COURT OF JUSTICE - ONTARIO

RE: Michael Ciardullo AND: 1832 Asset Management L.P., BMO Investments Inc., Canadian Imperial Bank of Commerce, CIBC Trust Corporation, Mackenzie Financial Capital Corporation, Mackenzie Financial Corporation, Natcan Trust Company, National Bank Investments Inc., and TD Asset Management Inc.

AND RE: Michael Ciardullo and Manojkumar Aggarwal AND: 1832 Asset Management L.P., BMO Investments Inc., Canadian Imperial Bank of Commerce, CIBC Trust Corporation, Mackenzie Financial Capital Corporation, Mackenzie Financial Corporation, Natcan Trust Company, National Bank Investment Inc., RBC Global Asset Management Inc., RBC Investor Services Trust and TD Asset Management Inc.

BEFORE: J.T. Akbarali J.

COUNSEL: Paul Guy, Serge Kalloghlian and Garth Myers, for the plaintiffs Tom Curry, Paul Erik-Veel, Jonathen Chen, Caroline Humphrey, for the defendant 1832 Asset Management L.P. James D.G. Douglas, Ian C. Matthews and Adrian Pel, for the defendant BMO Investments Inc. Linda Plumpton and Gillian Dingle, for the defendants Canadian Imperial Bank of Commerce and CIBC Trust Corporation David Di Paolo, Caitlin Sainsbury and Graham Splawski, for the defendants Mackenzie Financial Corporation and Mackenzie Financial Capital Corporation Andrew Faith and Brookelyn Kirkham, for the defendants National Bank Investments Inc. and Natcan Trust Company Andrea Laing and Ryan Morris, for the defendants RBC Global Asset Management Inc. and RBC Investor Services Trust R. Paul Steep, Shane D’Souza and Leah Ostler, for the defendant TD Asset Management Inc.

HEARD: In writing

Proceedings under the Class Proceedings Act, 1992

Endorsement

[1] The above-noted matters are two of a series of putative class actions which I am case managing. In addition to the matters to which this endorsement applies, there are six other related proceedings.

[2] The plaintiffs seek leave to discontinue Ciardullo et al. v. 1832 Asset Management L.P. et al., CV-22-00685386 under s. 29 of the Class Proceedings Act, 1992, S.O. 1992, c. 6. In addition, the plaintiff seeks leave to partially discontinue Ciardullo v. 1832 Asset Management L.P. et al., CV-22-00684723, in that he seeks to discontinue the action against all defendants except the Mackenzie defendants.

[3] The background to these requests for leave are that the two Ciardullo proceedings were commenced as omnibus proceedings. The other actions that have been subsequently commenced were commenced one as against each of the defendant groups apart from the Mackenzie defendants. The request is thus to discontinue one omnibus proceeding entirely, and convert the second omnibus proceeding into a proceeding against only the Mackenzie defendants. That proceeding would then proceed parallel to the other six proceedings commenced against each of the other defendant groups respectively.

[4] In actuality, this is not a discontinuance of claims. The claims alleged against all defendants continue in separate class proceedings against each defendant group. This is simply a housekeeping matter, as separate proceedings against each defendant group create a more streamlined approach within which to advance the actions.

[5] The defendants do not oppose the requests for leave that are sought.

[6] I grant leave to the plaintiffs to discontinue Ciardullo et al. v. 1832 Asset Management L.P. et al., CV-22-00685386 in its entirety, and leave to discontinue Ciardullo v. 1832 Asset Management L.P. et al., CV-22-00684723, against all defendants except the Mackenzie defendants.

J.T. Akbarali J.

Date: January 16, 2024