Merrill Lynch Puts Ex-Advisers' Deferred Pay Suit To Rest

Law360, Los Angeles (August 22, 2012, 10:10 PM EDT) -- Merrill Lynch & Co. Inc. has reached a deal to end a putative class action accusing it of breaching contracts by denying deferred compensation to thousands of financial advisers who quit after it was acquired by Bank of America Corp., according to a government filing.

In a quarterly report filed with the U.S. Securities and Exchange Commission on Aug. 14, Merrill Lynch said that four days earlier it had “reached an agreement in principle to settle” a New York federal class action brought by former Merrill...
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