Ex-Merrill Lynch Brokers Win $1M In Withheld Bonuses

Law360, New York (October 14, 2010, 7:48 PM EDT) -- Two former Merrill Lynch & Co. Inc. brokers who resigned during the takeover of the company by Bank of America Corp. won more than $1 million in deferred compensation for stock bonuses vested because of the change in control of Merrill Lynch, their lawyers said Thursday.

A Financial Industry Regulatory Authority arbitration panel ruled that Merrill Lynch was in breach of its contract with the brokers when it did not allow them to cash out their stock bonuses at a predetermined minimum value after hearings last...
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