Saturday, November 26, 2016

Canadian National Railway Settles And Wins $25 Million In Employee Scandal

Montreal, Canada | Canadian National Railway sues CP Rail, or Canadian Pacific Railway Ltd. (two of the largest railways in Canada) after Greg Shnerer quit CNR, to work for CP Rail. Canadian National Railway accuses Greg Shnerer of giving CP Rail confidential information. Canadian Pacific Rail agreed to pay Canadian National Railway $25 Million to settle the lawsuit out of court, after CN was originally seeking $74 Million. Derek Ackford was also involved within the case.

Calgary, Canada Based CP Rail states that them settling for $25 million does not reflect any liability that the employee did indeed take confidential information. This comes after the government of Alberta charged Canadian National Railway with breaking six statutes within the Environmental Protection and Enhancement Act in April 2015. CN hit a 52-week high in the stock market, the company is worth around $70 Billion.