Canadians could get part of $500M class-action lawsuit against TD Bank
A new class-action lawsuit filed against the Toronto Dominion Bank (TD Bank) could give extra cash to some Canadians.
The proposed class-action lawsuit alleges that TD Bank failed to pay or properly pay its mobile mortgage specialists vacation and/or public holiday pay on their commissions, volume, bonuses and other non-salary payments.
A notice from the legal team on Tuesday says the statement of claim seeks total damages of up to $500 million.
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According to the lawsuit, which was filed in the Ontario Superior Court of Justice, over 1,000 mobile mortgage specialists across Canada claim that they experienced unpaid vacation and holiday pay over several years from TD Bank.
The suit alleges that vacation and/or holiday pay was owed, but not paid.
“It is important to me that a court assess whether these mobile mortgage specialists are being paid the vacation and holiday pay required by the employment legislation,” Jason Chiang, a veteran mobile mortgage specialist who worked at TD Bank for nearly 13 years, said in a statement. “I am pleased to advance this case for all these employees.”
Chiang is the proposed representative plaintiff for the class-action lawsuit.
Under the federal Canada Labour Code, employees governed by that law — including employees paid in part or whole by commission and bonuses — are entitled to vacation pay of 4% to 8% (depending on their length of employment) of their gross or total wages.
The Code also says that those employees are entitled to additional pay for the statutory public holidays.
“Compliance with minimum employment standards is important for all employees generally,” stated the legal team.
“We will be bringing a motion to request that this case be certified for this class of employees and, if it is certified, a court will subsequently consider and evaluate the issues alleged in the claim.”
The allegations in the class-action lawsuit have not been proven in court. Daily Hive has reached out to TD Bank for comment.
If you think you’re an affected employee, you can register for updates on the class-action lawsuit here.
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