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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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Lightyear Announces Winners of 2026 Luminaries of Telecom Awards

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NEW YORK, Nov. 6, 2026 /PRNewswire/ — Lightyear, Telecom’s System of Action, today announced the winners of its fourth annual Luminaries of Telecom Awards, recognizing the people, teams, and organizations driving innovation and transformation across enterprise telecom.

For the first time, the awards were presented live at Layer8 by Lightyear, the company’s inaugural one-day industry event held in NYC on November 4, 2026. This year’s program recognized enterprise leaders and teams across four categories:

Platform ExcellenceAI TrailblazerDream TeamTransformation of the Year

The 2026 Luminaries Awards celebrate the individuals and organizations pushing the boundaries of what’s possible in telecom, from embracing AI-driven operations to transforming network procurement, telecom management, and collaboration.

2026 Award Recipients

Platform Excellence

Recognizing individuals who demonstrate exceptional use of the Lightyear platform through rapid implementation, innovative application, and measurable business impact.

Winners:

Motorola Solutions: Nicole Pagliaro-Mojica, Sr. Manager I, IT Network Business Operations, Telecom Services; Yader Rodriguez, Network Engineer; and Tina Covert, Network & Telecom Sr. Project ManagerRise Internet: Duane Zechmann, Field Engineering Manager

AI Trailblazer

Celebrating the forward-thinking leaders putting agentic AI to work in network operations to streamline processes, improve efficiency, and deliver meaningful business outcomes.

Winners:

The Trade Desk: Aftab Ali, Head of Infrastructure BizOps, and Kazuma Nagatori, Lead Staff Network EngineerElauwit Connection: Taylor Jones, President and CTO

Dream Team

Recognizing IT teams that exemplify exceptional collaboration, leveraging technology and strategic processes to work more effectively and deliver stronger outcomes across their organizations.

Winners:

FactSet: Umer Malik, Associate Director of Data Centers and Network Operations

Transformation of the Year

Honoring organizations that have leveraged Lightyear to fundamentally transform their network infrastructure while establishing best-in-class approaches to telecom procurement and vendor management.

Winners:

Honeywell Aerospace: Todd Stewart, Vice President of Network, Infrastructure, Computing, and SupportSolstice Advanced Materials: Bryan Adcock, Senior Strategic Sourcing Manager of Global IT Procurement and Steve Delatte, IT Director

Celebrating the People Moving Telecom Forward

“Telecom is at an inflection point. AI is changing what’s possible in network operations, but successful transformation still comes down to the people willing to challenge the status quo and rethink how things have always been done,” said Dennis Thankachan, CEO and Co-Founder of Lightyear. “This year’s Luminaries represent exactly that mindset. They’re not just adopting new technology; they’re putting it to work to drive real change across their organizations. We’re proud to be a part of their journeys and even more excited about what’s ahead for this industry.”

Lightyear congratulates all of this year’s winners and finalists and extends its sincere appreciation to the judging panel and event hosts for their time, expertise, and contributions to the program.

Congratulations to the 2026 Luminaries. We’ll see you next year!

About Lightyear

Lightyear helps more than 450 enterprises procure, manage, and pay for telecom services through one connected platform. Its Procurement, Network Inventory Management, and Expense Management products combine software, AI agents, proprietary data from 1,200+ carriers, and telecom experts to reduce costs, save time, and maintain control across the service lifecycle.

Media Contact

Caroline Colwell
caroline@lightyear.ai

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SOURCE Lightyear

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John Summit Brings Experts Only to Big Sky for Two Headline Shows, March 13-14, 2027

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Event marks Montana debut for John Summit and the exclusive Experts Only ski weekender in the U.S. in 2027

BIG SKY, Mont., Nov. 6, 2026 /PRNewswire/ — Outlaw Partners is pleased to announce that Experts Only is heading to Big Sky. John Summit Presents Experts Only Big Sky will take over the Big Sky Events Arena for two headline shows on Saturday, March 13 and Sunday, March 14, 2027. It will be John Summit’s first time performing in Montana and the only Experts Only ski weekender in the U.S. in 2027.

Presented by Experts Only and produced by Outlaw Partners, the weekend will bring together some of the world’s best DJs, live music, skiing, wellness activities, and more, all in one of the most spectacular mountain settings in North America. The Big Sky Events Arena sits in Big Sky’s Town Center, with the 11,166-foot Lone Mountain as the backdrop.

“We’re honored to partner with John Summit and the Experts Only team to bring this incredible electronic music and ski lifestyle event to Big Sky,” said Megan Paulson, Co-Founder and Chief Marketing Officer of Outlaw Partners. “The caliber of John and the Experts Only artists, set against a one-of-a-kind mountain backdrop and the ski lifestyle that defines Big Sky, makes this a weekend fans will not want to miss. It’s a once-in-a-lifetime experience, and we can’t wait to share it.”

“I’ve always wanted to go to Montana and throw an event there as I’ve only heard amazing things,” said John Summit. “Big Sky has been on our radar for a while so it was a no-brainer to bring Experts Only there. You know we’ll go all out as we always do with parties all over the mountain, It’s gonna be a fun one!”

Big Sky is an iconic location, and John Summit has become an icon in his craft. Together they promise a landmark weekend. With no mainstream festivals on John Summit’s 2027 schedule, the Big Sky stop will be a unique opportunity to see him.

Tickets include GA, VIP and VVIP options, and fans are expected to travel from around the country for the weekend. Demand is expected to be high and tickets are expected to sell out, so fans are encouraged to secure them early for the best access.

Early Access presale: Experts Only Big Sky presale tickets on Tuesday, November 10 at 10 a.m. MT.Public on-sale: Tickets go on sale to the general public on Wednesday, November 11 at 10 a.m. MT.

To register for presale ticket access visit – expertsonly.lnk.to/skiweekenders2027. Stay tuned for more event updates and information in the coming months.

About John Summit

John Summit is one of the most in-demand names in global dance music. The superstar DJ, producer, and label owner has amassed over three billion global streams, scored two #1 U.S. dance radio hits, and landed eleven Top 10 tracks on the Billboard Hot Electronic/Dance Songs chart. Known for his explosive live shows, Summit consistently sells out iconic venues worldwide, including New York City’s Madison Square Garden and Los Angeles’ Coliseum.

His global ascent shows no signs of slowing. From his debut Ibiza residency, headlining nine Mondays at [UNVRS], to a hometown headline set at Lollapalooza, he continues to command stages worldwide. Behind the scenes, Summit is a meticulous and thoughtful artist. Formerly a CPA by day and music tutor by night, he now spends long hours in the studio crafting dynamic, emotionally resonant tracks. He has headlined festivals around the world and produced unforgettable events in unique locations — from the hills of Tennessee to snowy takeovers in Vail, Colorado, and Tahoe, Nevada — all under the banner of his label and brand, Experts Only. Founded in pursuit of complete creative freedom, Experts Only is a global movement built on the principle of music without limits — blending house, techno, melodic, and everything in between. Summit’s global hits like “Where You Are” (feat. HAYLA), “Human” (feat. Echoes), and “Go Back” with Sub Focus (feat. Julia Church) reflect that ethos. In September 2026, the Chicago native turned Miami resident brought his groundbreaking Experts Only Festival back to New York for its second edition, drawing 60,000 fans to Randall’s Island for two days of high-octane performances.

He released his debut album Comfort In Chaos in 2024. Exploring themes of vice and virtue, highs and lows, and the duality of the human experience, the album reveals the man behind the icon, pairing Summit’s signature dancefloor energy with raw emotion and introspection. Building on this duality, Summit released his subsequent album CTRL ESCAPE on April 15th – reframing that tension through a new lens: the clash between 9–5 monotony and the electric release of the rave. Sonically and visually tracing Summit’s path from accountant to artist, the project positions music not just as an escape, but as a communal force—where collective euphoria becomes both rebellion and belonging. His impact on dance music has earned him nominations at the Billboard Music Awards, American Music Awards, and iHeartRadio Music Awards. He is now gearing up for his biggest headline run to date, the North American CTRL ESCAPE arena tour, further cementing his status as one of the few dance artists to achieve arena-level success.

About Experts Only

Experts Only is more than a record label—it’s a global movement born from John Summit’s pursuit of total creative freedom. Founded on the ethos of music without limits, Experts Only refuses to be boxed in, embracing a bold, genre-defying sound that spans house, techno, melodic, and everything in between. Since its inception, the label has become a platform for fearless artistry, showcasing standout releases from cutting-edge talents like Mau P, Kaskade, Odd Mob, Layton Giordani, Cassian, Max Styler, and Summit himself.

But Experts Only goes far beyond the studio. It’s reshaping the idea of a live dance-music experience, hosting unforgettable events in unlikely settings—from cave raves tucked in the Tennessee hills to snowy mountain takeovers in Vail, Colorado and Tahoe, Nevada, all the way to the lush jungles of Tulum. The brand has scaled internationally to places like Ibiza and Amsterdam, where few American DJs have made such an impact, and has made its mark on major festivals like Bonnaroo with its own curated stage. Experts Only wrapped its second annual festival on NYC’s Randall’s Island this year, following its 2025 debut and drawing more than 60K fans. The label was also named Label of the Year at the 2025 Powertools Awards on SiriusXM.

At its core, Experts Only is building a tightly connected global community—artists and fans united by a love of dance music that challenges the norm and hits deeper. Every release, every event, and every experience is a testament to the label’s mission: to push boundaries, set trends, and create a world where true creative expression reigns.

About Outlaw Partners

Founded in 2009, Outlaw Partners is an award-winning events, media and marketing company based in Big Sky and Bozeman, Montana. Outlaw is a passport to the Western lifestyle, building connections, creating experiences and inspiring action across its diverse business ecosystem.

Outlaw produces hand-curated events throughout Southwest Montana, including the 12x national event-of-the-year Big Sky PBR (Professional Bull Riding), community rodeos and more. Its seventh annual Wildlands Music, held at the Big Sky Events Arena with 11,166-foot Lone Peak as its backdrop, has grown into one of the region’s signature live music experiences, hosting artists including Carrie Underwood, Dave Matthews, Foo Fighters, Brandi Carlile, Riley Green and Lord Huron, among others.

Outlaw’s award-winning media portfolio, including Mountain Outlaw magazine, Explore Big Sky and Explore Yellowstone, tells the stories of the American West. Through events and media, Outlaw supports community organizations and creates experiences and content that capture the unique spirit of Montana and the greater Yellowstone.

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SOURCE Outlaw Partners

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PG&E Corporation Foundation Awards $327,500 in STEM College Scholarships

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Celebrating National STEM Day on Nov. 8 by Helping Students Pursue STEM Careers

Link to B-roll video and soundbites of STEM recipients

OAKLAND, Calif., Nov. 6, 2026 /PRNewswire/ — The PG&E Corporation Foundation (PG&E Foundation) awarded $327,500 in scholarships to dozens of students pursuing degrees in science, technology, engineering and math (STEM) at colleges and universities across California and Historically Black Colleges and Universities (HBCUs) nationwide.

As communities celebrate National STEM Day on Nov. 8, the PG&E Foundation reaffirms its commitment to building tomorrow’s workforce through investments in STEM education and scholarships.

This year, scholarships in the amounts of $2,500, $5,000 and $10,000 are being granted to 57 students from across Pacific Gas and Electric Company’s (PG&E) service area through the program.

Since 2012, the Better Together STEM Scholarship Program has awarded nearly $8 million to accomplished students. This contribution is funded by PG&E shareholders and is not recovered through customer rates.

By investing in STEM education, the Foundation helps inspire curiosity, creativity, and innovation while empowering students to develop solutions and technologies that can make a positive impact in their hometown communities and beyond.

Scholarship recipients include Quennel Kempe of Fresno and Caden Kelly of Shingle Springs. Both students attend UC Berkeley. Kempe received a $5,000 scholarship and Kelly received a $2,500 scholarship.

“Receiving the PG&E STEM Scholarship shows me that my community believes in me. The financial assistance and encouragement give me the confidence to achieve my goals and make a greater impact in the future,” said Kempe, who is studying computer science. 

“The PG&E STEM Scholarship has given me the freedom to focus fully on my education without the added stress of financial challenges. It also serves as a reminder of the values I want to carry forward, using my education to give back to my community, supporting others and helping make STEM opportunities more accessible for future generations,” said Kelly who is studying electrical engineering.

Scholarships are based on academic achievement, demonstrated participation and leadership in school and community activities, and financial need. Recipients may reapply annually for up to five years.

Watch PG&E’s video series of past STEM scholar recipients.

“We hope these students discover a path in science, technology, engineering, and math that not only leads to new innovations and breakthroughs but also brings them fulfillment and a sense of purpose. We are proud to support them on their journey as they pursue their higher education goals and dreams,” said Carla Peterman, President, PG&E Corporation, and Chair of The PG&E Corporation Foundation Board.

Scholarship recipients must plan to enroll in full-time undergraduate study for the entire 2026-2027 academic year and pursue their first undergraduate degree at an accredited four-year institution in California. HBCU eligibility was recently added after an increasing number of applicants were admitted to historically Black colleges and universities, none of which are in California.

Employees Supporting Local Scholars

In addition to the Better Together STEM Scholarship Program, PG&E’s 11 employee resource groups (ERGs) and three engineering networking groups (ENGs) award scholarships to help offset the cost of higher education. The funds are raised entirely from employee contributions through direct donations, fundraising events and the company’s employee giving program known as Campaign for the Community. Since 1989, more than $6 million ERG/ENG Scholarships has been raised and awarded to thousands of our hometown students.

About PG&E

Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE: PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit www.pge.com/ and http://www.pge.com/about/newsroom/.

About The PG&E Corporation Foundation
The PG&E Corporation Foundation is an independent 501(c)(3) nonprofit organization, separate from PG&E and sponsored by PG&E Corporation.

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SOURCE Pacific Gas and Electric Company

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