Judge Tosses Punitive Damages In Merrill Lynch Suit

Law360, New York (October 12, 2007, 12:00 AM EDT) -- A federal appeals court has nixed $2.1 million in punitive damages awarded to an ex-stockbroker who had worked for Merrill Lynch & Co. Inc. and accused her former employer of defamation after she was fired from the company.

The U.S. Court of Appeals for the First Circuit upheld the rest of a lower court's ruling Friday in the case involving former Merrill Lynch stockbroker Deborah Galarneau, including compensatory damages totaling $850,000 and a decision to deny judgment as a matter of law requested by Merrill Lynch....
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