$44M Deal In Merrill Lynch FLSA Suit Gets Final OK

Law360, New York (February 09, 2010, 1:34 PM ET) -- A federal judge has granted final approval to a $43.5 million settlement, including $10.9 million in legal fees, resolving 11 class and collective actions accusing Merrill Lynch & Co. of failing to properly compensate its financial advisers.

Judge Ancer L. Haggerty of the U.S. District Court for the District of Oregon on Monday signed off on the deal, which includes payouts to nearly 22,000 financial advisers of the firm, now owned by Bank of America Corp.

Under the settlement, Merrill Lynch has guaranteed that it will...
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