BUSINESS

Scotiabank Class Action Settlement Revised To $20.6 Million Approved By Ontario Judge

03/04/2016 01:02 EST | Updated 03/05/2017 05:12 EST
Vince Talotta via Getty Images
TORONTO, ON - NOVEMBER 4: Exterior and detailed pics of Nova Scotia Bank and the Scotiabank tower on King St near Bay St in Toronto on November 4, 2014 Vince Talotta/Toronto Star (Vince Talotta/Toronto Star via Getty Images)
TORONTO — An Ontario judge has approved a revised settlement that will see 1,600 Scotiabank employees who say they were required to work unpaid overtime receive $20.6 million.

Judge Edward Belobaba of the Ontario Superior Court approved the settlement Thursday, with written reasons to follow in the coming weeks.

A class-action lawsuit against Scotiabank was initially settled in 2014 and since then, roughly $18.7 million has been distributed among 600 class members.

But an additional 1,600 of the 2,200 employees who made claims had their claims rejected or reduced.

David O'Connor, a lawyer for the class members, says those are the people who will receive the $20.6 million.

O'Connor says that in addition to the money being paid to class members, the bank will have paid a total of $12.5 million in legal fees over the course of both settlements.

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