Merrill, Advisers Strike $17M Deal In Deferred Pay Row

Law360, New York (August 24, 2011, 1:54 PM EDT) -- A California federal judge will consider Thursday whether to approve a $16.8 million settlement between Merrill Lynch & Co. Inc. and a putative class of financial advisers claiming their former employer withheld deferred compensation awards when they quit to work with competitors.

U.S. District Judge Claudia Wilken is set to determine whether to conditionally certify a class of approximately 83 former Merrill Lynch financial advisers who say the investment firm violated California business code by enforcing an unlawful contract provision that prevents the payout of three...
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