For eight years in the 1990s, Attorney Charles Ware hosted the extremely popular legal advice radio program "The Lawyer's Mailbox"; the Number One (#1)legal advice radio program in the Mid-Atlantic Region,on WEAA - 88.9 FM, Morgan State University Radio in Baltimore, Maryland.
www.CharlesJeromeWare.com

Wednesday, August 28, 2013

COL., HO. CO., MD. JOB LAW UPDATE: MERRILL LYNCH BIAS CASE SETTLEMENT, www.CharlesJeromeWare.com

The national employment law firm of Charles Jerome Ware, P.A., Attorneys & Counsellors, is conveniently headquartered in Columbia, Howard County, Maryland.  The firm is nationally renowned, well-respected, and highly-regarded for its many successful cases and efforts in the areas of employment and discrimination law.

For a courtesy legal consultation, contact us at (410) 730-5016, (410) 720-6129, www.CharlesJeromeWare.com.

MERRILL LYNCH TO PAY BIG IN BIAS CASE

Merrill Lynch, one of the biggest brokerage firms on Wall Street, has agreed to pay $160 million to settle a racial bias lawsuit that wound through the federal courts for eight years, including two appeals to the United States Supreme Court.

The payout in the suit, which was filed on behalf of 700 black brokers who worked for Merrill, would be the largest sum ever distributed to plaintiffs in a racial discrimination suit against an American employer. Merrill, which was acquired by Bank of America after the suit was filed, also agreed to take advice from black employees on how to improve their chances of succeeding as brokers.

The pool of money, available to all black brokers and trainees at the firm since May 2001, is reportedly larger than those offered by other corporations sued by employees for racial bias, including Texaco and Coca-Cola, Ms. Friedman said. It also dwarfs recent payouts by other Wall Street firms, including $16 million that Morgan Stanley agreed to pay in 2008 to settle a suit brought by black and Hispanic brokers.

The Merrill Lynch plaintiffs had claimed they received little help from managers and were ostracized by co-workers, according to the Times account. The case “wound through the federal courts for eight years, including two appeals to the United States Supreme Court,” the newspaper says. The Chicago-based 7th U.S. Circuit Court of Appeals agreed to certify the class and a trial had been scheduled for January.

[news.nytco.com/blogs/dealbook/08-27-2013/Merrill Lynch To Pay Big In Bias Case; www.abajournal.com/article/08-2013/Merrill Lynch Reportedly Agrees to $160 Million Settlement In Bias Case]

No comments:

Post a Comment