Court Urged To Ignore Objection To $160M Merrill Bias Deal

Law360, New York (November 22, 2013, 2:37 PM EST) -- A former Merrill Lynch Pierce Fenner & Smith Inc. worker's argument that a $160 million settlement fund in a race bias class action against the company should be hiked up to $250 million is unrealistic, attorneys for the black financial advisers behind the suit told a Chicago federal court Thursday.

Ex-Merrill worker La Mar Gunn objected to the settlement — which was announced in August and won preliminary approval in September — and wants the company to cough up an extra $90 million and admit liability,...
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