Wealthsimple Commission-Free Cryptocurrency Class Action

The Plaintiff has negotiated and reached a Settlement Agreement with Wealthsimple to settle the class action on behalf of all Class Members in which Wealthsimple will pay $750,000.00 CAD (the “Settlement Amount”). Wealthsimple denies any wrongdoing, and the settlement is not an admission of liability, nor is it an admission of any of the allegations or the merits of any claim in the class action.

Each Class Member with an Eligible Account, or each Class Member who no longer has an active crypto account or cash/ chequing account with Wealthsimple and who makes the request to Class Counsel by July 31, 2025, will receive an equal portion of the Settlement Amount, after deduction of Class Counsel fees ($225,000 plus GST and QST) and disbursements ($3,000 plus GST and QST), amounts owed to the Fonds d’aide aux actions collectives and the Settlement Administrator’s fees (the “Fixed Compensation”).

The Fixed Compensation, currently estimated at approximately $3.40 per Class Member, subject to further adjustments, will be paid out approximately 90 days following the date on which the judgment of the Court approving the Settlement Agreement becomes final, as a cash deposit (i.e. a credit) that will be applied directly to each Eligible Account, or paid by Interac transfer to the Class Members who no longer has an active crypto account or cash/chequing account with Wealthsimple and who makes the request to Class Counsel by July 31, 2025.

For more details, please see the full Settlement Agreement available at www.lpclex.com/crypto.

1) Benefit from Settlement Agreement

If you are a Class Member and wish to participate in the class action and the Wealthsimple Settlement, you do not need to do anything at this time. You will be bound by the Settlement Agreement described herein and by any other judgment rendered in this class action as it relates to Wealthsimple. Please note that if you are a Class Member, but either did not receive this notice or no longer have an active cryptocurrency account or cash/ chequing account with Wealthsimple, you must contact Class Counsel in order to receive compensation (as described below).

What if a Class Member is no longer a client of Wealthsimple or does not have an active crypto or cash/ chequing account with Wealthsimple?

Class Members who are no longer clients of Wealthsimple, or who do not have an active crypto or cash account with Wealthsimple can submit their contact information to Class Counsel at [email protected] on or before July 31, 2025. If they meet all of the other requirements of an Eligible Account as defined in the Settlement Agreement, these Class Members will be entitled to receive the Fixed Compensation only by Interac e-transfer from the Settlement Administrator.

For more information and access to the full version of the Settlement Agreement, please visit: www.lpclex.com/crypto. You may also contact Class Counsel:

LPC Avocats Inc.
Me Joey Zukran
276 Saint-Jacques Street, Suite 801
Montréal, Quebec H2Y 1N3

Email: [email protected]
Telephone: 514-379-1572