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Previously, employers had feared that they may face massive historic liabilities since there did not appear to be any limitation on how far back claims for an unlawful series of deductions from pay could go.This could leave businesses faces claims going back to October 1998 when the WTR came into force.The right of return was accomplished through undisclosed side letters and oral agreements.As a result, as alleged in the complaint, Vitesse materially inflated the revenue it reported in its financial statements in 14 quarters from September 2001 through early 2006.
Accordingly, the commission had to be taken into account when calculating his holiday pay.
To do otherwise would place workers at a financial disadvantage when taking annual leave, thus deterring them from taking annual leave contrary to purpose of the WTD.
In order to understand the debate regarding holiday pay and overtime it is helpful to distinguish between:1.
According to the SEC, from September 2001 through April 2006, the defendants “engaged in an elaborate channel stuffing scheme in order to improperly record revenue on product shipments.” As a result, Vitesse inflated the revenue it reported in its financial statements for 14 quarters, the SEC alleged in a complaint filed in U. District Court for the Southern District of New York.
The defendants also “engaged in a scheme to backdate stock option grant dates for their personal benefit and the benefit of other Vitesse executives and employees,” the SEC alleged.
It concluded that there could not be a break of more than three months between any of the unlawful deductions in a series, otherwise the chain would be broken.