TD Bank is facing a significant class action lawsuit in Canada, alleging the bank failed to properly compensate over 1,000 mobile mortgage specialists for vacation and public holiday pay on their commissions, volume bonuses, and other variable payments.
Background of the Lawsuit
The lawsuit, filed in the Ontario Superior Court of Justice, claims that TD Bank did not provide or adequately pay vacation and holiday pay to its mobile mortgage specialists across Canada. The proposed class action seeks damages up to $500 million.
Eligibility Criteria
The class action targets mobile mortgage specialists employed by TD Bank who were compensated, in whole or in part, through commissions and bonuses.
Under the federal Canada Labour Code, such employees are entitled to vacation pay ranging from 4% to 8% of their gross wages, depending on their length of employment.
Potential Compensation
If the class action is successful, affected employees could receive compensation for the unpaid vacation and holiday pay owed to them. The total damages sought amount to $500 million, which would be distributed among the eligible claimants.
Legal Representation
The proposed representative plaintiff, Jason Chiang, is a veteran mobile mortgage specialist who spent nearly 13 years working for TD Bank in Vancouver.
He is represented by a team of Toronto lawyers, including David O’Connor of Roy O’Connor LLP, Stephen Moreau of Cavalluzzo LLP, and Daniel Lublin of Whitten & Lublin PC.
TD Bank’s Response
As of now, TD Bank has not issued a public statement regarding the lawsuit. The bank is expected to defend the action and deny the allegations.
Implications for Affected Employees
Employees who believe they are part of the affected group should consider registering for updates on the class action lawsuit.
This will ensure they receive timely information about the progress of the case and any potential compensation.
Conclusion
The TD Bank class action lawsuit highlights the importance of employers adhering to employment standards, particularly concerning vacation and holiday pay.
Employees affected by such practices have the right to seek compensation through legal channels.
FAQs
1. What is the TD Bank class action lawsuit about?
The lawsuit alleges that TD Bank failed to properly compensate over 1,000 mobile mortgage specialists for vacation and public holiday pay on their commissions, volume bonuses, and other variable payments.
2. Who is eligible to be part of this class action?
Mobile mortgage specialists employed by TD Bank who were compensated, in whole or in part, through commissions and bonuses are eligible. Under the Canada Labour Code, such employees are entitled to vacation pay ranging from 4% to 8% of their gross wages, depending on their length of employment.
3. What compensation is being sought?
The class action seeks damages up to $500 million, which would be distributed among the eligible claimants.
4. Has TD Bank responded to the lawsuit?
As of now, TD Bank has not issued a public statement regarding the lawsuit. The bank is expected to defend the action and deny the allegations.
