No Class Cert. For Merrill Brokers In Race Bias Suit

Law360, New York (September 19, 2011, 8:28 PM EDT) -- An Illinois federal judge on Monday denied class certification for a second time to brokers accusing Merrill Lynch & Co. Inc. of racial discrimination, saying the plaintiffs could not establish sufficient facts common to the class.

Named plaintiff George McReynolds launched the lawsuit against Bank of America Corp.-owned Merrill Lynch in 2005 on behalf of a putative class of about 700 black financial advisers and trainees employed in the company's retail brokerage unit. The suit accuses the financial giant of engaging in systemic discrimination against black...
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