Ex-Merrill Brokers Ask 9th Circ. To Revive Trading Action

Law360, New York (November 22, 2011, 8:07 PM EST) -- A putative class of former Merrill Lynch & Co. employees on Monday asked the Ninth Circuit to overturn a lower court ruling that the workers could only play the stock market through brokerage accounts with their employer in order to comply with insider trading rules.

The former Merrill Lynch financial consultants argued in an opening brief filed with the appellate court that the trial court had been wrong to toss their suit against parent company Bank of America Corp., alleging its investment banking unit violated a...
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