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Ontario Superior Court Awards Over $170 Million in Damages to Mutual Fund Investors in Landmark Class Action Decision

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TORONTO, July 17, 2026 /PRNewswire/ — On July 16, 2026, Justice Marcus Koehnen of the Ontario Superior Court of Justice ordered CI Mutual Funds Inc. and AIC Limited to pay Class Members damages and interest in excess of $170 million.

The Market Timing class action, commenced in 2006, alleged that certain mutual fund managers permitted sophisticated offshore hedge fund investors to engage in frequent trading in their funds, that substantially diluted the investment of long-term investors, including retail unitholders, many of whom were retirees.

Rochon Genova has represented the long-term investors since the inception of this case, including before the Supreme Court of Canada, on appeal from an earlier certification motion.  The Supreme Court certified the case in 2013. A subsequent case management order divided the trial into two phases: a trial in respect of liability, and a subsequent trial in respect of damages. The liability trial was held in February, March and June 2022.

On February 13, 2023, Justice Koehnen issued reasons for judgment in respect of the liability trial.  Justice Koehnen found that both CI and AIC breached their duty of care to prevent “market timing” in their funds. The liability decision, indexed as Fischer v. IG Investment, 2023 ONSC 915, is available here.

The damages trial was heard before Justice Koehnen between March 28 and May 16, 2025. Closing submissions were heard on July 30, August 6 and August 7, 2025. In total, Class Counsel spent 41 days in trial on liability (24 days) and damages (17 days).On June 16, 2026, Justice Marcus Koehnen of the Superior Court of Justice issued reasons for judgment in respect of the damages trial.

The Court accepted the evidence of the Plaintiffs’ expert, Professor Eric Zitzewitz, and determined that the “Next Day NAV method” of calculating damages was the appropriate methodology to use, as it measures the specific harm that the time zone arbitrage at issue caused, harm referred to as dilution.

Justice Koehnen determined that the “profits method”, the method of calculating damages advocated for by CI’s expert, was not appropriate as it “measures the wrong thing”. The Court determined that on a balance of probabilities, the “prerequisites of using the profits method” had not been met.

Ultimately, with respect to CI, the Court awarded the Plaintiffs $60,480,000 in damages for the harm resulting from CI’s failure to take appropriate steps to prevent market timing by certain Identified Accounts.

The Court also awarded the Plaintiffs damages caused by specific Additional Accounts at CI that were identified by the Plaintiffs’ expert, Professor Zitzewitz, as having engaged in market timing that harmed the unit holders.

With respect to AIC, the Court awarded the Plaintiffs a total of $37,900,659 in damages, which includes damages caused by the Identified Accounts, and Additional Accounts at AIC that were identified by the Plaintiffs’ expert as having engaged in market timing. 

The Court determined the Plaintiffs are also entitled to pre-judgment interest in the amount of 2.8% per annum, to be applied to the damages figures set out above, in addition to costs against both Defendants.

Peter Jervis, a senior partner at Rochon Genova who led the prosecution of this case, stated: “The damages decision sends a clear message that those who fail to safeguard investors from harmful market practices will be held accountable. That this result was achieved after two decades of hard-fought litigation, is a testament to the perseverance of the Representative Plaintiffs and Class Counsel, and to the strength of our judicial system in delivering access to justice in complex cases.”

Joel Rochon, the Managing Partner of Rochon Genova added: “The decision is an important victory not only for the Class Members, but for the integrity of Canadian capital markets. Mutual funds are a cornerstone of the retirement savings of millions of everyday Canadians, and investors are entitled to expect that fund managers will protect them from practices that unfairly dilute the value of their investments.”

The Plaintiffs in this action were represented by Peter Jervis, Joel Rochon, Sarah Fiddes and Jessica Marshall.

For further updates, please visit Rochon Genova’s website here.

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SOURCE Rochon Genova

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Koozee Introduces Freeform Canvas and MCP in Major Platform Update

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November 5, 2026

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Koozee Launches Freeform Canvas and MCP to Make Apparel Visual Production Repeatable

SYDNEY, Nov. 5, 2026 /PRNewswire/ — STARII TECHNOLOGY PTY LTD today announced a major update to Koozee, its AI apparel visual production platform. The update introduces Freeform Canvas, a node-based workspace for reusable, multi-step fashion content workflows, and Koozee MCP, which lets supported AI agents access Koozee’s fashion visual tools for batch image generation. The company also consolidated its preset workflows under Quick Create.

“Freeform Canvas helps apparel teams connect each step of visual production and reuse workflows across a collection. MCP lets them bring Koozee’s fashion tools into supported AI agent workflows,” said Adrian Bennett, product lead at Koozee.

QUICK CREATE

Sellers choose an outcome — a model try-on, a flat lay, a ghost mannequin shot, a pose or scene change, an enhancement pass, or a short product video — upload a garment photo, and receive a finished visual. No prompt writing is required.

FREEFORM CANVAS

Freeform Canvas is a node-based workspace for connecting garment photos, model photos and visual references, or starting with an idea to generate text, images or video. Users can choose templates such as Outfit Swap or Recolor Garment, select an AI engine and carry each output into the next step to refine or extend a look. Users can add nodes and, for more creative control, add written instructions or reference images.

An approved look can become flat lays, three-view outfit images, nine-frame storyboards, scene variations or videos for product pages, ads and social media. Teams can save the workflow, replace assets and apply it across a whole collection. Canvas supports Gemini, Claude, GPT, Nano Banana, Seedance and Kling for text, image and video tasks.

MCP CONNECTS KOOZEE WITH AI AGENTS

Koozee MCP connects Koozee’s fashion visual tools to Codex, Claude Code, WorkBuddy, Antigravity and more. Users can request batch fashion image generation directly from their existing AI workspace. A copyable setup prompt connects the agent using OAuth and Streamable HTTP and configures it to use Koozee MCP for image generation.

AVAILABILITY

Both features are available now. Learn more about Koozee at koozee.ai.

ABOUT KOOZEE

Koozee is an AI visual production platform for apparel e-commerce

MULTIMEDIA

Image link for media: https://www.Send2Press.com/300dpi/26-1105-s2p-koozee-canvas-300dpi.webp 

Image caption: Koozee Freeform Canvas connects apparel references; MCP enables AI-agent fashion image generation. Models shown are AI-generated.

This release was issued through Send2Press® on behalf of the news source. For more information, visit Send2Press Newswire at https://www.send2press.com/.

View original content:https://www.prnewswire.com/news-releases/koozee-introduces-freeform-canvas-and-mcp-in-major-platform-update-302931134.html

SOURCE STARII TECHNOLOGY PTY LTD

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Financial Cents Brings Back WorkflowCon for 2026 — Bigger Than Ever and Still Free

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November 5, 2026

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Back by popular demand after a standout 2025, the two-day virtual conference for small and growing accounting firms returns November 9–10 with an expanded lineup: four keynotes, more than 20 speakers across five tracks and the Small & Mighty Awards

ATLANTA, Nov. 5, 2026 /CNW/ — WorkflowCon is back. Financial Cents, the practice management software built for small and growing accounting and bookkeeping firms, is bringing back its free annual virtual conference — and this year, it’s bigger than ever. After a standout 2025, WorkflowCon returns November 9–10, 2026, with an expanded two-day program for firm owners and teams across North America who want to grow with intention. Registration is open now, and attendance is completely free.

This year’s theme, “Focus Is the New Flex,” reframes what success looks like for small and growing firms. With owners pulled in every direction and pressured to offer more services to more clients, WorkflowCon makes the case for a different approach: deciding what not to do. The program spotlights firm owners who have committed to a single growth lever — a client niche, a service line or a distinct way of working — and held steady everywhere else.

The free, 100% virtual event spans five tracks — Workflow, AI, Client, Revenue and Team — so every member of a firm can find a relevant path. Attendees can join for one day or both, and session recordings are available afterward.

WorkflowCon 2026 features four keynote speakers:

Ethan Kross, PhD, psychologist and bestselling author of Shift and Chatter, who closes Day 1 with a session on managing emotions under pressure;Keila Hill-Trawick, CPA, founder and CEO of Little Fish Accounting, who delivers the opening plenary;Jan Haugo, founder of SmartAccountant.ai and co-author of Intuit’s AI certification; andNicole Davis, CPA, founder of Conscious Accounting and a Forbes Top 200 CPA.

They are joined by more than 20 firm owners, operators and advisors leading sessions throughout the program.

“WorkflowCon is an opportunity to step away from the day-to-day, learn from other firm owners, and think differently about how you’re running your business,” said Hill-Trawick.

Highlights from the agenda include candid, practitioner-led sessions such as “Would You Fire This Client?” with Al-Nesha Jones, CPA, and Tony Proctor, EA; “Pricing Is How You Say No” with Logan Graf, CPA; “Attract A-Players in 45 Minutes” with Ryan Lazanis, CPA; “The Minimum Viable Operations Manual” with Justine Lackey; and “Before AI Touches Client Data,” a frank look at the questions every tool should answer before being entrusted with sensitive client data. The event opens with a host welcome from Financial Cents CEO Shahram Zarshenas. The full agenda, including Day 2 sessions, will be announced in the coming weeks.

“Running a firm means being pulled in a dozen directions at once, and the pressure to do more of everything never really lets up,” said Zarshenas. “WorkflowCon makes the opposite case. The firms we admire most didn’t grow by saying yes to everything; they got clear on what mattered and had the discipline to let the rest go. We created these two days so firm owners can step back from the daily grind, learn from peers who’ve made those calls and leave with a better sense of where to focus.”

The event will also crown the winners of the Small & Mighty Awards, which recognize standout accounting, bookkeeping, tax and advisory professionals across the U.S. and Canada in four categories. The four winners — selected from 12 finalists by an independent panel of practitioners — will be revealed live on Day 2.

Registration is free and open now at workflowcon.com.

Firms that want help making the case to a manager can use the conference’s ready-made “Convince Your Boss” email template, also available on the site.

About Financial Cents

Financial Cents is a leading practice management platform built to help accounting and bookkeeping firms streamline workflows, improve collaboration and scale without chaos. Thousands of firms across North America rely on Financial Cents to manage their work, clients and teams in one place. It is rated 4.8 out of 5 on Capterra and 4.7 out of 5 on G2. Learn more at financial-cents.com.

Media Contact
marketing@financial-cents.com 

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SOURCE Financial Cents

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Quality Steak, Inc.’s Bella Philly Steaks™ Brings Authentic Philly Cheesesteak to the Frozen Aisle

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2 minutes ago

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November 5, 2026

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Marinated Beef and Chicken Sandwich Slices create meals in minutes, now in approximately 300 Target stores and with online retailers nationwide

VOORHEES TOWNSHIP, N.J., Nov. 5, 2026 /PRNewswire/ — Quality Steak, Inc., a family-owned Philadelphia-area meat company with more than 50 years of food industry experience, today announced the retail launch of Bella Philly Steaks™, a line of frozen Beef and Chicken Sandwich Slices. The products have been on shelf at approximately 300 Target stores along the East Coast since mid-September and are available nationwide online through Amazon.com, Di Bruno Bros. and Misfits Market. Each 12-ounce box has an in-store MSRP of $7.99. Additional retail distribution is planned for 2027.

Bella Philly Steaks are made with chopped, formed and sliced premium beef or chicken and finished with an exclusive marinade that delivers authentic Philly flavor.

Beyond the classic Philadelphia cheesesteak, Bella Philly Steaks are a simple, protein-forward base for meals at home, including skillet dinners, stuffed peppers, flatbread and pizza toppings, protein bowls, breakfast sandwiches, soups, cheesesteak dips and more.

“We’re proud to be a leading supplier and partner for restaurants across the country, and we’re excited to bring that same quality to consumers at home. In foodservice, you learn fast that a product has to be consistent, good-tasting and full of flavor, because professional kitchens don’t have time to spare,” said Gavin Mutter, managing partner of Quality Steak, Inc. “A kitchen at home at 6 p.m. is no different. We built Bella Philly Steaks to bring that same standard to families who want a real, protein-rich meal without the work and headache of planning.”

Home cooking is gaining momentum. According to FMI’s 2026 research on shopper meal trends, 44% of shoppers are having more family meals at home than a year ago, and 35% are cooking more often. The launch of Bella Philly Steaks will be supported by consumer and trade promotions, recipes, social content, couponing and influencer partnerships.

Find where to buy, plus recipes and product news, at BellaPhillySteaks.com. Follow Bella Philly Steaks on LinkedIn, TikTok, Instagram and Facebook.

About Quality Steak, Inc.
Quality Steak, Inc. is a family-owned and operated company based in Voorhees, New Jersey, with more than 50 years of meat expertise serving foodservice customers nationwide. A leading independent supplier of raw and fully cooked thin-sliced beef and chicken steak, the company also offers customized ready-to-eat protein products. Quality Steak, Inc. delivers value through innovative products, consistent quality and superior customer service. Through its new retail brand, Bella Philly Steaks, the company is on a quest to bring authentic Philadelphia flavor to home kitchens nationwide.

Media Contact:
Alissa Davis
VP Marketing
Quality Steak, Inc.
609-519-4873
Alissa.Davis@QualityFoodsInc.com

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SOURCE Quality Steaks, Inc

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