The Globe and Mail reports in its Tuesday edition that an Ontario court has approved an $8.5-million settlement deal between TD Asset Management and a group of investors. The Globe's Clare O'Hara writes that the investors filed a class action alleging their funds lost value after the bank paid millions of dollars in fees to discount brokerages for advice they did not provide. Kalloghlian Myers LLP announced Monday that investors who had purchased a TD mutual fund from an investment adviser on or before Sept. 11, 2024, can now file for compensation after the Ontario Superior Court approved a class-action settlement with the bank. TD agreed to pay $70.25-million earlier this year to settle a separate class action filed by Siskinds LLP on behalf of do-it-yourself investors who had purchased TD mutual funds through on-line trading platforms. The latest case, however, covers a broader class of investors who purchased the investment funds outside of a discount brokerage, such as through a bank branch or a financial adviser. Investors allege the payment of advice fees lowered the value of TD's mutual funds, shrinking their overall returns. TD is the first bank to settle class-action lawsuits with Siskinds and Kalloghlian.