Class action suit regarding payment off overtimeJust read an article on TSX Money that the Ontario Supreme Court has ruled against CIBC regarding the class action suit started approx. 10 years ago about the payment of overtime. Apparently affects approx. $31,000 present and past employees. Decision regarding damatges/costs to be dealth with later.
Wonder what the Bank will do next; what the damages/costs will be and what affect this will have on the stock prices. I appreciate that this is not the responsibilty of the current CEO but it's time the CIBC hired a CEO who has the best interest in the personnel and shareholders and not his bonus and renumeration. Gone from tired with Royal Bank as number 1 in the mid 80's to number 5 of big Canadian Banks. Shows the incompetence of the past CEO's all of which left with big pensions and stock options. Greed, Gree, Greed!