Court Echoes Panel In Merrill Broker Firing

Law360, New York (March 28, 2007, 12:00 AM EDT) -- In a blow to Merrill Lynch, a federal court has upheld a $14 million wrongful termination award granted to three former brokers who were fired from the financial powerhouse after purportedly engaging in improper market-timing schemes.

The U.S. District Court in Manhattan on Monday denied Merrill’s motion to vacate the ruling, siding with tarnished ex-employees Christopher Chung, William Savino and Kevin Brunnock in the defamation dispute.

"An arbitration award may be vacated only if procured by corruption or fraud, if the arbitrators exhibited evident partiality, were...
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