Merrill's Top Execs To Be Deposed In Race-Bias Suit

Law360 (September 18, 2006, 12:00 AM EDT) -- Merrill Lynch & Co.’s top executives will take the stand in a federal lawsuit alleging systematic and pervasive bias against African-Americans at the financial-services giant, more than thirty years after the U.S. Equal Employment Opportunity Commission sued the firm for discriminatory hiring practices.

Stanley O’Neal, Merrill’s president, chief executive and chairman, will give his deposition on November 1, according to Linda Friedman, who represents the plaintiffs in the suit. O’Neal is a 20-year veteran of Merrill Lynch and an African-American.

“He absolutely has the power to...
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