CIBC and CIBC World Markets Overtime Class Action
This class proceeding concerns the misclassification of employees as being ineligible for overtime pay pursuant to the Canada Labour Code (“CLC”) and the Employment Standards Act, 2000 (“ESA”) and the failure to pay those employees the overtime pay they earned.
It is alleged that the Defendants, CIBC World Markets Inc. (“CIBCWM”) and the Canadian Imperial Bank of Commerce (“CIBC”), breached their contractual and statutory duties to the class (Analysts and Investment Advisors) by requiring them to work overtime but failing to appropriately compensate them for those overtime hours in accordance with the Defendants’ own overtime policy, the CLC and the ESA. The Statement of Claim alleges, among other things, that class members were routinely required to work overtime, that CIBC and CIBCWM misclassified class members as being ineligible for overtime pay and, as a result, failed to pay them the overtime pay they earned.
Generally, the class of persons this class proceeding seeks to represent is comprised of all current and former Analysts and Investment Advisors of CIBC and CIBCWM who held those positions in Ontario since 1996.
Koskie Minsky LLP along with Juroviesky LLP represent the Plaintiffs in this action.