Merrill Lynch's $21M Deal With Ex-Advisers Gets Final OK

Law360, Los Angeles (April 26, 2013, 9:28 PM EDT) -- A New York federal judge on Friday reportedly approved a settlement in which Merrill Lynch & Co. Inc. will pay $21 million to end class action claims brought by its former financial advisers who say they were denied deferred compensation.

The deal got preliminary approval in December, just after Merrill Lynch slightly sweetened it by increasing the amounts brokers can claim and agreeing to pay attorneys from a separate pot. The agreement replaced a proposal approved by U.S. District Judge Alison Nathan in September but fought...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Chambers et al v. Merrill Lynch & Co., Inc., et al


Case Number

1:10-cv-07109

Court

New York Southern

Nature of Suit

Contract: Other

Judge

Alison J. Nathan

Date Filed

September 16, 2010

Law Firms

Companies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.