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Consultant Sues Merrill Lynch For Annual Bonus

Law360 (October 16, 2009, 12:26 PM EDT) -- A former financial consultant for Merrill Lynch Pierce Fenner & Smith Inc. has hit the brokerage firm with a breach of contract suit for failing to pay him an annual bonus in 2006 and 2007.

Paul Turner, who ran a one-man business called Reinsurance Strategies LLC, sued Merrill Lynch in New York County Supreme Court on Thursday, alleging the firm breached his consulting agreement and demanding at least $500,000 in damages.

According to the complaint, the consulting agreement with Merrill Lynch said Turner would “be given...
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