Merrill Lynch Fails To Shake Suit Over Tardy Wage Payments

Law360, New York (May 11, 2012, 1:38 PM EDT) -- Merrill Lynch Pierce Fenner & Smith Inc. on Thursday lost its bid to boot a class action accusing it of failing to promptly pay commissions to departing employees, after a California federal judge disputed the bank’s interpretation of the state’s labor codes.

The Bank of America Corp.-acquired company was denied its motion to dismiss a putative class action brought by former Merrill Lynch financial adviser John Robert Labriola, who says his erstwhile employer violated a number of state laws by taking too long to pay out...
To view the full article, register now.