TORONTO, Dec. 18, 2013 /CNW/ - In Reasons released December 17(th) 2013, Madam
Justice Sachs of The Divisional Court denied BMO Nesbitt Burns Inc. leave to
appeal from an earlier decision certifying a class action against Nesbitt
Burns for overtime compensation. The denial of leave to appeal means that the
earlier order of Justice Belobaba certifying the class action against BMO
Nesbitt Burns Inc. stands.
Class Counsel believe that up to 1,500 current and former Investment Advisors,
Associate Investment Advisors and Investment Advisor Trainees, employed by
Nesbitt Burns since 2002, may potentially be class members.
The class action claim alleges that Nesbitt Burns breached its duties to the
class members by systematically and improperly denying overtime to the class.
The allegations have not yet been proven in court. The decision denying leave
to appeal will allow this case to proceed as a class action.
Yegal Rosen, a former Investment Advisor with Nesbitt Burns, has been
appointed as the lead representative plaintiff in the action. Mr. Rosen worked
as an Investment Advisor for Nesbitt Burns Inc. from 2002-2006. Mr. Rosen
alleges that during this period he never received overtime compensation, while
working between 60-80 hours per week.
This class action follows several other "off the clock" overtime class actions
by employees in the banking sector. This is the first "misclassification" case
in this area to be certified as a class action, and with leave to appeal
denied, this case will now continue.
SOURCE Koskie Minsky LLP
Koskie Minsky LLP and Mr. Eli Karp at Merchant Law represent the plaintiff in
this action. For more information on this class proceeding please contact
Jody Brown at Koskie Minsky LLP at 416-595-2709, or Eli Karp at 416 828 7777,
or visitwww.kmlaw.ca/nesbittclassaction, or
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-0- Dec/18/2013 21:31 GMT
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