TORONTO, Jan. 5, 2023 /CNW/ – The parties have agreed to settle class actions, launched in 2007, by retail branch employees alleging systemic unpaid overtime. The settlement provides that CIBC will pay a total of $153 million, which will be used to compensate approximately 30,000 class members (current and former front-line retail staff) for unpaid overtime, and also [...]

RBC Dominion Securities Inc., a subsidiary of the Royal Bank of Canada, and one of Canada’s leading full-service investment and wealth management firms, is facing a now certified class action lawsuit, claiming damages for allegedly unpaid vacation and holiday pay on commission compensation. The underlying Statement of Claim, as reported previously, seeks damages up to $800 million.On December 29, 2022, the Ontario Superior Court of Justice released a decision certifying the lawsuit as a class proceeding. The lawsuit alleges [...]