Law students at the University of Windsor are declaring victory after receiving a $3.1-million award from the settlement of a class action lawsuit against one of Canada's biggest banks.
The lawsuit, worth $100-million, was over an undisclosed fee BMO charged customers on foreign exchange conversions. It alleged a breach of trust, breach of fiduciary duty, and breach of contract. It demanded that BMO return the profits.
The court ruled in favour of the plaintiffs in February 2020.
The Windsor Law School's Class Action Clinic was instrumental in the legal win while giving students hands-on experience.
"The lawsuit settlement helped thousands of Canadians achieve access to justice for their claim," said one of the lead plaintiffs, James McDonald. "I have every confidence that this award will propel the essential work of the Class Action Clinic further and faster to also help many more thousands of Canadians for many years to come."
The clinic at Windsor Law is the first of its kind in North America, according to Windsor Law Dean Reem Bahdi.
"This re-affirms the important work of the clinic and will permit it to accelerate its focus on helping Canadians across the country in their pursuit of justice," said Bahdi.
