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News  ›  GlobeNewswire Inc.

Phillips Barristers PC and Randy Ai Law Office - Ontario Superior Court Certifies Class Action Against Scotiabank Regarding Vacation and Holiday Pay

GlobeNewswire Inc. Logo GlobeNewswire Inc. By Phillips Barristers Pc And Randy Ai Law Office
Phillips Barristers PC and Randy Ai Law Office - Ontario Superior Court Certifies Class Action Against Scotiabank Regarding Vacation and Holiday Pay

The Ontario Superior Court certified a $125 million class action lawsuit against Scotiabank, alleging the bank failed to fully pay employees' vacation and holiday pay by not including incentive payments and restricted share units in compensation calculations.

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GM   neutral

Mentioned as a comparison point with lower earnings multiple, no specific positive or negative commentary


BNS   negative

The bank is facing a significant $125 million class action lawsuit alleging systematic underpayment of employee compensation, which could damage its reputation and potentially result in financial penalties