Decision confirms KPMG's Plan as mechanism for settlement of statutory
TORONTO, Aug. 7 /CNW/ - KPMG LLP (Canada) announced today that Mr.
Justice Perell of the Ontario Superior Court of Justice, has certified a Class
Action against the firm for unpaid overtime, and has given his approval for
KPMG's Overtime Redress Plan (ORP) provides the framework for this
settlement. The ORP, which the firm established in February 2008, was designed
to ensure that all eligible current and former employees were fully and fairly
compensated, according to the relevant provincial laws, for all statutory
overtime since January 1, 2000 that was determined to have been earned but
Justice Perell was advised that 90 percent of the outstanding overtime
payments have already been accepted by current and former employees.
"We are very pleased that KPMG's ORP has now been approved by the Court,"
said Bill MacKinnon, KPMG's CEO. "When the claim was commenced in September
2007, we conducted a thorough investigation of our work practices. At that
time, we promised that we would directly and fairly address our employees'
concerns about unpaid statutory overtime. The prompt implementation of the
Overtime Redress Plan in February of this year delivered on our commitment."
"It was always our intention that the ORP would be approved by the
Court," MacKinnon continued. "We are pleased with the Judge's decision, which
adopts our ORP as the mechanism for resolving all statutory overtime issues
associated with the claim."
KPMG LLP, a Canadian limited liability partnership established under the
laws of Ontario, is the Canadian member firm affiliated with KPMG
International, a global network of professional firms providing Audit, Tax,
and Advisory services. Member firms operate in 145 countries and have more
than 123,000 professionals working around the world.
The independent member firms of the KPMG network are affiliated with KPMG
International, a Swiss cooperative. Each KPMG firm is a legally distinct and
separate entity, and describes itself as such.
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