BofA, Merrill Settle Senior Specialists' OT Action

Law360, New York (December 22, 2011, 3:52 PM EST) -- Bank of America Corp. and Merrill Lynch & Co. Inc. reached a settlement agreement Wednesday with senior specialists in New York, ending the proposed class action lobbed at the two financial giants over allegedly unpaid overtime.

U.S. District Judge Paul G. Gardephe signed off on a dismissal of the case with prejudice, saying the parties involved in the suit informed the court that all of the suit’s claims had been settled. Terms of the settlement were not immediately disclosed.

The senior specialists filed the suit April...
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