Consultant Sues Merrill Lynch For Annual Bonus

Law360, New York (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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.