In certifying a pension class action by Brewers Retail Inc., an Ontario Superior Court judge denounced the Financial Services Regulatory Authority of Ontario for defying a decision of its predecessor, the Financial Services Commission of Ontario.
Justice Ed Morgan certified the class on Feb. 10, 2022, setting the stage for a settlement approval hearing. In March 2021, Brewers Retail brought a court application for certification of the class action following five years of negotiations with the FSCO over the company’s 2008 decision to de-index its pension plan for salaried employees that concluded in early 2019.
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Julius Melnitzer is a Toronto-based legal affairs writer, ghostwriter, writing coach and media trainer. Readers can reach him at [email protected] or https://legalwriter.net/contact.