TORONTO, Dec. 18, 2013 /CNW/ - In Reasons released December 17th 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
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
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
For further information:
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 visit www.kmlaw.ca/nesbittclassaction, or E-mail firstname.lastname@example.org.