NEWS
03/04/2016 08:02 EST | Updated 03/05/2017 00:12 EST

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

The settlement follows another one reached in 2014.

Vince Talotta via Getty Images
Exterior and detailed pics of Nova Scotia Bank and the Scotiabank tower on King St near Bay St. in Toronto on Nov. 4, 2014.

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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