
Major class action lawsuit targets Toronto-based investment management firm
Isabelle Docto
created: Oct. 2, 2025, 12:24 p.m. | updated: Oct. 3, 2025, 4:34 a.m.
Last week, law firm Slater Vecchio LLP filed a class action against the online investment management service, alleging that a recent data breach "exposed highly sensitive personal and financial information of some of Wealthsimple's Canadian customers."
The lawsuit refers to a cyberattack that Wealthsimple detected on Aug. 30 and notified clients about on Sept. 5.
"Immediately upon discovering the data security incident, we acted quickly to stop it.
"This action is about protecting Canadians and ensuring that financial institutions treat data security as the serious obligation it is."
If you were affected by the data breach, you can submit your name, contact details, and indicate whether you received a breach notification from Wealthsimple on the class action website.
6 days, 13 hours ago: blogTO