Unpaid Overtime – CIBC
In June of 2007, lawyers from Roy O’Connor LLP and our co-counsel Sack Goldblatt Mitchell LLP (“SGM”) (and now including co-counsel Sotos LLP) launched, on behalf of the plaintiff Dara Fresco, this class action lawsuit against CIBC in respect of unpaid overtime. The action is brought on behalf of current and former non-management, non-unionized employees of CIBC in Canada who are or were tellers or other front-line customer service employees (limited to personal bankers, commercial bankers and account executives, working at CIBC retail branch offices across Canada).
Ms. Fresco’s statement of claim alleges that, among other things, CIBC failed to compensate her and the other Class Member for the overtime they were required or permitted to work in excess of their standard working hours. The allegations in the statement of claim have not yet been proven in Court.
Ms. Fresco’s action was certified as a class proceeding in June of 2012.
Settlement Approved
The parties have agreed to settle class action. The settlement provides that CIBC will pay a total of $153 million, which will be used to compensate approximately 30,000 class members for unpaid overtime, and also used to pay for legal fees and for the cost of distributing the settlement funds.
The settlement was reached after 15 years of contested litigation, and months of negotiation, which followed decisions on liability by the Ontario Superior Court and Court of Appeal. The Court left the calculation of compensation and CIBC’s related defences to a further hearing, which will no longer be necessary because of the negotiated settlement.
The settlement as approved by the Ontario Superior Court on March 3, 2o23. Class Members had until March 25, 2024 to make a claim for compensation under the settlement. The period for making a claim is now closed and will not be extended.
Representative Plaintiff Dara Fresco, the former CIBC Bank teller, who brought this case in 2007, stated that she is pleased with the settlement. “It is good news for the class to have this case finally resolved”, said Ms. Fresco. “I am very happy that the case is settling. This settlement is a fair compromise that will bring meaningful compensation to thousands of my fellow class members.”
Class Counsel stressed that the settlement will provide for a simple and easy method for class members to be paid. “A big advantage of this settlement is that class members will not have to prove their claims, a task that could be challenging in cases where some claims may go back nearly 30 years.” “We believe that this settlement will put more money into more class members’ hands, a lot sooner, than would happen if the case continued to be fought.”
Settlement Approval Documents
Please click on the links below to view or download the following documents:
Please click on link below to review the Settlement, Distribution and Fee Approval Motion Records:
More Information/Register as a Class Member
For more information about this action (including to view or download a copy of the statement of claim and or key court decisions) please visit: www.cibcunpaidovertime.ca
You may also email or call us at:
Email: info@royoconnor.ca or unpaidovertime@sgmlaw.com
Call: 1.888.687.2431